MANILA, Philippines — Inflation likely accelerated to a fresh five-year high of 4.9 percent in June due to higher prices of food and “sin” products, the Department of Finance (DOF) said yesterday. In its latest economic bulletin, the DOF said the June inflation may have grown to 4.9 percent year-on-year, faster than the previous month’s […]
Read MoreMANILA, Philippines — The overall increase in prices of key consumer items likely accelerated at a faster pace in June driven by higher food prices, the Department of Finance said Tuesday. In an economic bulletin, the DOF said inflation might have inched up to 4.9 percent in June. Actual May inflation rate spiked to a five-year […]
Read MoreMANILA, Philippines — The inter-agency Development Budget Coordination Committee (DBCC) disclosed a new set of economic assumptions for this year and next year to reflect the aggressive spending strategy of the government and the upward trend in consumer prices. However, despite the change in some of the macroeconomic forecasts, economic managers still maintain the country’s […]
Read MoreMANILA, Philippines — Domestic factory output sustained growth, although at a slower pace in June because of slower increases in output and new orders coupled with persisting inflationary pressures, according to the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) released yesterday. The headline Manufacturing PMI for the country registered a lower reading of 52.9 in […]
Read MoreMANILA, Philippines — A weaker peso is seen boosting tourism receipts as foreign tourists spend more as they get more value for they money, an official of the Department of Tourism(DOT) said. “A stronger US dollar against the Philippine peso will mean more purchasing power for foreign tourists visiting the country,”Tourism Undersecretary Benito Bengzon told The […]
Read MoreMANILA, Philippines — The deficit in the external trade of Philippine agricultural products widened by 41 percent to $1.83 billion in the first quarter as imports rose and exports declined, the Philippine Statistics Authority (PSA) reported over the weekend. This compares with $1.30 billion in the same period in 2017. The total value of inbound […]
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