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.
 

Consumer prices inch up in June

 Economy
Jul 042013
 
Consumer prices inch up in June

File photo of consumers in the Philippines. MANILA, Philippines – Consumer prices slightly accelerated in June from the previous month but the Bangko Sentral ng Pilipinas (BSP) said inflation continues to remain manageable. Inflation picked up to 2.8 percent in June from 2.6 percent in May, the National Statistics Office (NSO) reported on Friday. “This was due to higher annual increments in the indices for alcoholic beverages and tobacco, health, transport, recreation and culture, and education,” the state agency said in its website. Excluding food and oil prices, core inflation settled at 2.9 percent, slightly losing pace from three percent in May. The BSP welcomed the latest inflation print, which fell within its 2 to 2.9 percent forecast for the month. The result “further supports our assessment of manageable inflation and the current appropriateness of our current policy stance,” BSP Governor Amando Tetangco Jr. said in a text message to reporters. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 As of the first half, inflation settled at 2.9 percent, slightly below the BSP’s three- to five-percent inflation target. The central bank, Tetangco said, will be watchful of external developments, especially on how other monetary authorities abroad will calibrate their policies. “We will monitor the impact of these factors on global and domestic investor sentiment and growth dynamics to see if there is any need to adjust our own policy settings,” Tetangco pointed out. The BSP has kept policy rates at record-lows of 3.5 percent and 5.5 percent since October, Read More …

Consumer confidence hits record high

 Economy
Jun 142013
 
Consumer confidence hits record high

MANILA, Philippines – Consumer confidence has hit record high this quarter as the country’s strong economic growth is expected to translate to more investments, more hiring and higher salaries, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. According to the results of the Consumer Expectations Survey, the overall confidence index (CI) climbed to -5.7 percent for the next quarter from -11.2 percent in the previous three months. The current CI – although still negative – is the highest since the BSP survey began in the first quarter of 2007, central bank assistant governor Ma. Cyd Tuaño-Amador told reporters in a briefing. A negative result in the index indicates the pessimists outnumber the optimists “although the margin between the two declined to its lowest ever,” she said. Rosabel Guerrero, director of the BSP’s department of economic statistics, attributed the result to “better job opportunities, increased investment inflows that would support job creation and salary increases.” “Consumers also cited the country’s strong macroeconomic fundamentals and the investment grade credit rating by Fitch Ratings as factors that contributed to their more bullish outlook,” she told reporters. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The local economy expanded 7.8 percent in the first three months of the year, surpassing market expectations to become Asia’s fastest growing economy. This was achieved against the backdrop of a slow three-percent inflation. Slow inflation and a “stable” foreign exchange rate give consumers more purchasing power to spend for goods and services, in addition to public savings. Read More …

Consumer confidence hits record high

 Economy
Jun 142013
 
Consumer confidence hits record high

MANILA, Philippines – Consumer confidence hit a record high this quarter as the country’s strong economic growth is expected to translate to more investments, hiring and higher salaries, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. According to the results of the Consumer Expectations Survey, the over-all confidence index (CI) climbed to -5.7 percent for the next quarter from -11.2 percent in the previous three months. The current CI— although still negative— is the highest since the BSP survey began in the first quarter of 2007, central bank Assistant Governor Ma. Cyd Tuaño-Amador told reporters in a briefing. A negative result in the index indicates the pessimists outnumbered the optimists “although the margin between the two declined to its lowest ever,” she said. Rosabel Guerrero, director of the BSP’s department of economic statistics, attributed the result to “better job opportunities, increased investment inflows that would support job creation and salary increases.” “Consumers also cited the country’s strong macroeconomic fundamentals and the investment grade credit rating by Fitch Ratings as factors that contributed to their more bullish outlook,” she told reporters. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The local economy expanded by 7.8 percent in the first three months of the year, surpassing market expectations to become Asia’s fastest growing economy. This was achieved against the backdrop of slow three percent inflation. Slow inflation and a “stable” foreign exchange rate give consumers more purchasing power to spend for goods and services, in addition to public savings. Based Read More …