The Philippine Statistics Authority (PSA) said the country's average inflation rate from January to November 2022 stood at 5.6 per cent, reports Xinhua news ...
Similarly, sugar production is still reeling from the damage caused by recent typhoons,” Socioeconomic Planning Secretary Arsenio Balisacan said. Meanwhile, the PSA said the core inflation, which excludes volatile food and energy items in the headline inflation, rose to 6.5 per cent in November from 5.9 per cent in October. Manila: The year-on-year inflation rate in the Philippines accelerated to 8 per cent in November from 7.7 per cent in October, the highest since 2008, official figures revealed on Tuesday
The current positive inflation rate indicates the volume of ether being minted now outpaces the amount being burned.
CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [Merge](https://www.coindesk.com/tech/2022/09/15/the-ethereum-merge-is-done-did-it-work/), which shifted the platform’s protocol from [proof-of-work](https://www.coindesk.com/learn/2020/12/16/what-is-proof-of-work/) (PoW) protocol to a more energy-efficient [proof-of-stake](https://www.coindesk.com/learn/what-is-proof-of-stake/) (PoS) protocol on Sept. [strict set of editorial policies](/ethics/). But ether’s inflation rate also depends on a separate mechanism known as the Ethereum Improvement Proposal (EIP)-1559, where fees paid for transactions on the network are “burned,” or eliminated from circulation. The upgrade in theory eliminated mining and staking rewards totaling about 1,600 ETH per day – [a 90% drop in new issuance](https://www.coindesk.com/markets/2022/09/28/ethereum-merge-vaults-cryptocurrency-past-bitcoin-in-hard-money-allure/). “In the weeks since, that has faded and now there is very little demand to use neither centralized nor decentralized exchanges.”
Aside from COVID-19, President Ferdinand Marcos Jr. orders the Health department to prioritize campaigns against human immunodeficiency virus or HIV and ...
Korean label BIGHIT Music says no official event will be held on the day of BTS member Jin’s upcoming military recruitment. BTS Jin will enter the military without fanfare. In football, Brazil shreds South Korea, with a final score of 4-1, in one of the best performances of the 2022 World Cup.
MANILA, Philippines — Albay 2nd District Rep. Joey Salceda has maintained that there is no other way to solve the rising inflation rates, which jumped to ...
The 38% year-on-year inflation in sugar can no longer be justified by protecting the local sector, which is heavily unequal on its own,” he added. Salceda also highlighted that adequate supply is key to bringing down prices of goods, as food expenditures are still the primary driver of high inflation rates. That is in part due to our rigid food trade regime in crops in short supply, such as sugar and onions. “The primary driver of high inflation remains food prices, which have increased by 10% year-on-year. Even as the Bangko Sentral ng Pilipinas has already hiked rates to meet the US Fed’s actions, that is no substitute for supply solutions, especially since we are an economy in rapid recovery momentum,” he added. “As I emphasized in August, inflation could peak to 8.5% this year and end up with an annual average of 6%.
No end in sight as prices of basic goods and services further rise ahead of the Christmas season. Inflation accelerated to 8-percent in November, ...
Para mabuhay nang "disente" ang isang pamilya sa Metro Manila na may limang miyembro, kakailanganin na nila ang halos P25,000 buwan-buwan dahil sa bilis ng ...
[ipanawagan](https://www.philstar.com/business/2022/11/23/2225927/p33k-minimum-wage-govt-workers-nationwide-sought-amid-rising-prices) ng government workers sa pangunguna ng Confederation for Unity, Recognition and Advancement of Government Employees (COURAGE) na dapat nang itaas sa P33,000 kada buwan ang minimum wage para sa kanilang sektor upang mailapit ito sa makatotohanang family living wage. [Pinag-aaralan](https://www.philstar.com/pilipino-star-ngayon/bansa/2022/11/28/2227036/senador-inaaral-dagdag-sweldo-kasunod-ng-p33k-minimum-wage-calls-sa-govt-workers) naman na ngayon ni Sen. Soaring inflation is pushing up the cost of living and the mandated minimum wage can’t keep up," dagdag pa ng IBON. Reported 8% Nov inflation is the highest in 14 years. Soaring inflation is pushing up the cost of living. Mas kumokonti kasi ang pwedeng mabili ng parehong halaga ng pera tuwing nangyayari ito.
Philippines' annual inflation data soared to 8.0%, marking the country's fastest inflation in 14-year high since November 2008.
Its surge was driven primarily by costlier food prices. He said the rise in prices is driven by supply side pressures rather than an increase in demand. In spite of growth being expected to slow down in 2023, the November inflation data suggests that the central bank still has a number of rate hikes in the pipeline "to help stem any second round effects from higher food prices, rein in demand, and make sure inflation expectations are well anchored," said Aris Dacanay, ASEAN Economist from HSBC Global Research. Philippines' annual inflation data for November soared 8% year-on-year, marking the country's highest inflation in 14 years as food prices soar, according to data from the "The government is continuously implementing targeted subsidies and discounts to allay the impact of the higher prices of essential goods, especially for the vulnerable sectors and low-income earners of our society," in a - Philippines' annual inflation data for November soared to 8.0%, marking the country's fastest inflation in 14-year high since November 2008 on the back of higher food prices, according to the Philippines Statistics Authority.
All economists in a Bloomberg survey see the board keeping borrowing costs unchanged at 11.25%, the highest in more than 20 years. The decision would be in line ...
The Philippines' inflation accelerated to the highest level since November 2008, mainly due to an increase in food prices due to poor climate, but remained ...
[here](https://www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx) to check out our [Econ Scorecard](https://www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx) and find out! Prices for restaurants and accommodation grew 6.5 percent. See up-to-the-moment rankings for the best and worst performers in [GDP](https://www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx), [unemployment rate](https://www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx), [inflation](https://www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx) and much more. Economists had expected a 7.8 percent rise. On a monthly basis, consumer prices declined 0.7 percent in November, after a 1.0 percent growth in the previous month. Prices for food and non-alcoholic beverages increased 10.0 percent in November, following a 9.4 percent rise in the previous month. [health](https://www.rttnews.com/Content/Health.aspx) rose by 2.8 percent. Core inflation, which excludes selected food and energy items in the headline inflation, rose to 6.5 percent in November from 5.9 percent in October. "The November inflation outturn is in line with the BSP's assessment of above-target inflation in the near term before gradually decelerating in the succeeding months as the cost-push shocks to inflation due to weather disturbances and transport fare adjustments dissipate," the central bank said in a statement. Mapa also expects the BSP's rate decisions to be dictated by Fed decisions though Governor Felipe Medalla has expressed willingness to consider a pause in the current rate hike cycle by the second quarter if inflation moderates and the Philippine peso stabilizes. The consumer price inflation rose to 8.0 percent in November from 7.7 percent in October, data from the Philippine Statistics Authority showed on Tuesday. The Philippines' inflation accelerated to the highest level since November 2008, mainly due to an increase in food prices due to poor climate, but remained within the forecast range of the central bank that is widely expected to deliver another rate hike in its policy session next week.
While it did not breach the upper end of the Bangko Sentral ng Pilipinas' (BSP) 7.4- to 8.2-percent forecast, the result put monetary authorities under pressure ...
"We need to provide assistance, particularly to vulnerable groups, especially in times of high inflation. At 5.6 percent year to date, consumer price growth is well over the BSP's 2.0- to 4.0-percent target. "The BSP is also reassured by the timely implementation of non-monetary government measures to mitigate the impact of persistent supply-side pressures on inflation." This also indicated that inflation would likely go even higher in December. However, we need to improve our delivery mechanisms, particularly on the provision of ayuda (aid) to ensure that the aid reaches the right people in a timely manner," Balisacan continued. Headline inflation a year earlier was just 3.7 percent.
MANILA, Philippines — Inflation rose to a 14 year-high in November largely due to faster food price upticks, the Philippine Statistics Authority (PSA) ...
“This inflation (rate) is the highest since November 2008. She said another contributor to the higher inflation rate in November was the furnishings, household equipment and routine household maintenance index as it climbed to 4.5 percent in November from 3.8 percent in October. Del Prado said the higher inflation rate in November was driven by the faster increase in food and non-alcoholic beverage prices, which rose to 10 percent in November from 9.4 percent in October. Also driving the uptrend in inflation was the higher increase in the index of restaurants and accommodation services at 6.5 percent in November from 5.7 percent in October. In a briefing, deputy national statistician Divina Gracia del Prado said headline inflation – the rate of increase in prices of consumer goods and services – rose to eight percent in November from 7.7 percent in October. Del Prado said the November inflation rate was within the Bangko Sentral ng Pilipinas’ forecast of 7.4 to 8.2 percent for the month.
RISING FOOD PRICES pushed inflation to a 14-year high in November, the Philippine Statistics Authority (PSA) said on Tuesday.
said the November inflation print showed that food continues to drive inflation higher amid supply issues in the agriculture sector and the impact of recent typhoons. “We expect a decline in the coming months mainly due to the stabilization of oil prices recently,” he said. Mapa said headline inflation could still peak in December and slow in January, but inflation will not decelerate quickly similar to what happened in 2018. Even if oil prices have stabilized recently, the pressure on consumer prices may not ease until the second half of 2023,” he said in a note. Del Prado, PSA officer-in-charge and deputy national statistician, said at a briefing that November inflation quickened due to the spike in food prices, which reflected the spillover effect of the typhoon that hit the country in late October. Similarly, sugar production is still reeling from the damage caused by recent typhoons,” the National Economic and Development Authority (NEDA) said in a separate statement. This was faster than the 7.3% print in October and 4.2% last year. This was the fastest rise in food inflation since September 2018. The BSP has raised the key policy rate by 300 basis points (bps) to 5% since May to curb soaring inflation. Rice prices went up 3.1%, from 2.5% in the previous month. In the eleven months to November, core inflation averaged 3.7%. It was also higher than the median estimate of 7.8% in a BusinessWorld poll of 15 analysts conducted last week, but within the 7.4-8.2% forecast range of the Bangko Sentral ng Pilipinas (BSP).
Prices of key consumer goods continued to surge in November, hitting a 14-year high, as food, non-alcoholic beverages, electricity and transport services r.
The BSP is also reassured by the timely implementation of non-monetary government measures to mitigate the impact of persistent supply-side pressures on inflation,” Medalla said. “(Inflation) could even ease year-on-year significantly, especially starting first quarter (of next year) due to higher base/denominator effects, as the peak in global crude oil prices in early March 2022 already significantly corrected lower. The forecast for 2024 has also risen slightly to 3.1 percent. Meanwhile, the impact of a weaker-than-expected global economic recovery is the primary downside risk to the outlook,” Medalla said. The interest rate on the BSP’s overnight reverse repurchase facility now stands at 5.0 percent. “The November outturn is within the BSP’s forecast range of 7.4 to 8.2 percent. “There was never an instance wherein the local policy rate is lower than the Fed Funds Rate (now at 4.00 percent) at least over the past 20 years or even before that, in view of the difference in the credit ratings of the US and the Philippines, as well as the difference in the long-term inflation outlook of the two countries,” Ricafort said. Furthermore, year-on-year inflation would mathematically ease further in the second half of 2023 due to much higher base/denominator effects, in view of the anniversary of wage hikes and transport fare hikes starting June-July 2022 that led to second-round inflation effects,” Ricafort said. The Philippine Statistics Authority (PSA) yesterday said the sustained acceleration of inflation “was mainly due to the higher year-on-year growth rate in the index of food and non-alcoholic beverages at 10 percent, from 9.4 percent in October.” is confident the Philippines is on track to maintain its strong economic performance and is expected to reach its annual growth target of 6.5 percent to 7.5 percent even while the inflation is “running rampant and out of control.” “The country is on track to maintain a strong economic performance and achieve the government’s growth target…However, on the other side of the coin, there is still inflation that is running rampant and out of control,” Marcos said. PSA also attributed the uptrend to the higher annual increment in the index of restaurants and accommodation services at 6.5 percent, from 5.7 percent the previous month.
Rate held at 11.25% as forecast by all economists in survey · Central bank to publish revised inflation forecasts Wednesday.
Policy makers voted unanimously to hold borrowing costs at 11.25% on Tuesday, as expected by all economists in a Bloomberg survey. It reiterated that the tightening cycle is over. Chile’s central bank held its benchmark interest rate unchanged following 11 straight hikes as demand falters and inflation comes off its highest level in three decades.
Bank of America Corp. CEO Brian Moynihan also flagged the slowing rate of growth in consumer expenditures, and Capital One Financial Corp.'s Richard Fairbank ...
MANILA – The Philippine economy continues to recover from the negative impact of the Covid-19 pandemic even after the country's inflation rate accelerated ...
Connection is secure Checking if the site connection is secure Occasionally, you may see this page while the site ensures that the connection is secure.
While House Deputy Minority Leader and ACT Teachers Party-list Rep. France Castro on Tuesday, Dec. 6, urged President Ferdinand “Bongbong” Marcos Jr. to ...
“In the spirit of the upcoming holidays, the Marcos administration should ensure that (the) people are able to provide decent lives for themselves and their families. The 38 percent year-on-year inflation in sugar can no longer be justified by protecting the local sector, which is heavily unequal on its own.” Immediate executive action may still take time to actually address fundamental drivers of inflation, but would be proper signaling for the public and private sectors. to prioritize salary increase amid the 14-year-high inflation rate of 8 percent in November 2022, House Ways and Means chair and Albay 2nd District Rep. The Philippines’ inflation rate jumped to a whopping 8 percent last month, the highest recorded in 14 years or since Nov. It should make concrete steps that will immediately affect the people.
MANILA, Philippines — While he admitted that inflation is “running rampant and out of control,” President Ferdinand Marcos Jr. on Tuesday said the ...
“The Marcos administration must do something to ease the rising prices of basic goods. “The administration should prioritize steps to reduce the prices [of basic commodities] and raise the salaries of Filipinos. This is not the time for a Maharlika Investment Fund, the government should not have budgets for oppressive policies like the NTF-Elcac and confidential funds. Immediate executive action may still take time to actually address fundamental drivers of inflation, but would be proper signaling for the public and private sectors,” Salceda said. “We can make an impact on food prices by reducing transport bottlenecks.” “Local government units may be directed to lift all hindrances and blockages across farm-to-market routes. MANILA, Philippines — While he admitted that inflation is “running rampant and out of control,” President Ferdinand Marcos Jr. “The main drivers, unfortunately, are still imported inflation. In a statement, Albay Rep. “[H]owever, on the other side of that coin, there is still inflation that is rampant and out of control,” Marcos said. Following the release of inflation data, Marcos, addressing an economic forum by the Joint Foreign Chambers (JFC) of the Philippines, said of that “poor news” that “we are now trying to identify the areas of the economy that are the main drivers of that inflation.” on Tuesday said the Philippines is still on track “to maintain a strong economic performance” and achieve the government’s growth target of 6.5 to 7.5 percent for this year.
Chances are, dining tables across the country for this year's “noche buena” meals will have a little less food for Filipinos to enjoy. About 8 percent less, to ...
administration should make good on the promise of diversified energy sources that previous administrations before it have promised but failed to deliver in a meaningful manner. It is now imperative that the administration of President Marcos Jr. But absolutely necessary to the sake of solving the longer term problem. The central bank under its new governor embarked on an aggressive cycle of interest rate hikes to kill off any inflationary effects that excess liquidity might have on prices. By the end of this year, Filipinos would have experienced—and survived—nine months of price surges. As such, it will most likely start coming down by the first quarter of 2023, meaning that Filipinos can look forward to a new year of greater purchasing power for the pesos in their wallets.