Inflation slips to 3.9% in March

 Economy
Apr 042014
 

MANILA, Philippines – Consumer prices in March eased, the National Statistics Office said Friday.

According to the NSO, inflation in March slipped to 3.9 percent, the slowest so far this year. In January inflation was 4.2 percent and 4.1 percent in February.

“The downtrend was due to slower annual hikes posted in the indices of alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; recreation and culture; and restaurant and miscellaneous goods and services. Inflation during the same month in 2013 was 3.2 percent,” the NSO said.

Excluding volatile food and energy items, the core inflation was slower at 2.8 percent in March from 3.0 percent in February.
 

Jobless rate drops to 6.5%

 Economy
Dec 102013
 
Jobless rate drops to 6.5%

MANILA, Philippines – Joblessness in the country declined in October compared to the same month a year ago with more individuals finding work, the National Statistics Office (NSO) reported. The Labor Force Survey released by the NSO yesterday showed that the unemployment rate was estimated at 6.5 percent in October, down slightly from 6.8 percent in the same month last year. The NSO noted that the number of jobless Filipinos fell to  2.602 million this year from 2.763 million a year ago. “Among the regions, the NCR (National Capital Region) continued to have the highest unemployment rate,” the NSO said. The jobless rate in the region was estimated at 10.2 percent in October compared to the 11 percent in the same month last year. The statistics agency also noted that majority or 64.4 percent of those without jobs were males. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In terms of educational attainment, 21.4 percent of the unemployed were college graduates, 13.9 percent were college undergraduates, and 33.5 percent were high school graduates. Of the estimated 63.109 million population of those aged 15 years and over in October, the NSO said 37.733 million individuals were employed, up from the 37.670 million in the previous year. Of the total employed persons, most or 53.4 percent were in the services sector. Those in the agriculture sector comprised the second largest group, with its 31.4- percent share, while the balance or 15.2 percent was accounted for by the industry sector. The number Read More …

Inflation hits 3-mo high in Sept

 Economy
Oct 042013
 
Inflation hits 3-mo high in Sept

MANILA, Philippines – The nationwide inflation rate picked up more than expected in September on higher prices of food, non-alcoholic beverages and utilities.  In a report, the National Statistics Office (NSO) said the consumer price index rose 2.7 percent in September from a year earlier, the fastest in three months and picking up from a four-year low hit in August. Despite the acceleration, the latest figure is still within the Bangko Sentral ng Pilipinas’ forecast range of 1.9 to 2.8 percent for the month. Without food and oil prices, core inflation went up to 2.3 percent in September from 1.9 percent in August. “This reaffirms our assessment that inflation would remain manageable over the policy horizon, and that barring any unforeseen developments, policy settings continue to be appropriate,” BSP Governor Amando M. Tetangco Jr. said in a text message to reporters yesterday. ‘’The BSP will remain watchful of both local and global developments, including the impact of the resolution of the issues surrounding the US debt ceiling on financial market volatilities in the near term, and the real economy in the medium term,” he added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Tetangco said the central bank is ready to adjust policy settings in line with keeping prices stable. “The BSP will adjust policy settings, as appropriate, consistent with our price and financial stability objectives,” Tetangco said. Since the start of the year, the Monetary Board has kept overnight borrowing and lending rates at 3.5 percent and 5.5 Read More …