MANILA, Philippines — Inflation continued to be a problem in the Philippines in October, although it steadied from the previous month’s level amid mixed price movements posted by commodity groups, the country’s statistics agency reported. Inflation clocked in at 6.7 percent in October, unchanged from September’s level and the fastest pace in nearly a decade. Year-to-date, inflation […]
Read MoreMANILA, Philippines — The country’s rice self-sufficiency level declined to 93.44 percent from 95.01 percent, the Philippine Statistics Authority said. According to the PSA, the country’s Import dependency ratio (IDR) of rice increased to 6.56 percent last year from 4.99 percent in 2016. Rice imports went up by 39 percent to P18 billion in 2017.In […]
Read MoreMANILA, Philippines — Manufacturing activity continued to improve in October as factories registered a strong influx of new orders, ramping up production and hiring, according to the latest reading of the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI). The headline manufacturing PMI for the country rose to 54 in October from 52 in September, the highest reading in 10 months, indicating […]
Read MoreMANILA, Philippines — Inflation likely slowed to 6.5 percent in October due to declining prices of rice and other food items, according to the Department of Finance. In his latest economic bulletin, Finance Undersecretary and chief economist Gil Beltran said year-on-year inflation last month may have eased to 6.5 percent from the 6.7 percent recorded […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is clamping down on online foreign exchange brokerage and trading platforms organized abroad to protect the interest of investors. BSP Governor Nestor Espenila Jr. issued Memorandum M-2018-032 reminding all banks to deal only with companies involved in or operating online foreign exchange brokerage and trading platforms that are authorized or licensed by, […]
Read MoreMANILA, Philippines — The escalating trade war between China and the US is expected to have a minimal effect on the Philippines but at the same time, the country cannot benefit massively from the shift in production chains, according to a new report by The Economist Intelligence Unit. In the report issued over the weekend […]
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