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Rice multiplies inflation weight 10-fold

The contribution of rice to inflation multiplied tenfold this year amid issues on supply and importation, underscoring the need to implement reforms in the government’s agricultural policies, according to the Department of Finance (DOF)......»»

Category: financeSource: philstar philstarOct 12th, 2018

Going…going…Galung-gone

Like rice, for many galunggong (round scad) is a staple. Fish after all is an important part of the basket of goods whose prices are tracked and regulated and when included in the aggregate prices of everything considered staples, when weight-averaged to determine the total cost of living, it becomes a critical indicator of inflation. […].....»»

Category: newsSource:  tribuneRelated NewsAug 30th, 2018

PCCI to mobilize local chapters to stabilize prices

The Philippine Chamber of Commerce and Industry has offered to mobilize its chapters and business organizations nationwide to assist the government’s program allowing retailers to import rice and sugar provided they sell at pre-inflation levels and ensure that the lowering of prices can be felt as soon as possible, especially during the Christmas season. PCCI… link: PCCI to mobilize local chapters to stabilize prices.....»»

Category: newsSource:  manilainformerRelated NewsDec 10th, 2018

‘Rice tariffication won’t solve Philippines’ inflation problem’

By Ian Nicolas Cigaral/philstar.com – Lifting the more than two-decade-old caps on rice imports would not solve the Philippines’ inflation problem, Deutsche Bank said, adding that the country’s “overheating” economy must lose steam to “stably” tame stubbornly high prices. Households reeling from soaring prices since the beginning of the year Read more ».....»»

Category: newsSource:  thepinoyRelated NewsDec 9th, 2018

Inflation to finally start slowing – poll

6.1-6.6% result seen for November, down from 2018 high of 6.7% INFLATION likely slowed in November with economists polled by The Manila Times pointing to cheaper fuel and rice, among…READ The post Inflation to finally start slowing – poll appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsDec 3rd, 2018

DOF sees inflation easing to 6.3% in November

Inflation likely eased to 6.3 percent in November from a near 10-year high of 6.7 percent in October as supply of agricultural products, particularly rice, started to normalize last month, according to the Department of Finance (DOF)......»»

Category: financeSource:  philstarRelated NewsDec 3rd, 2018

BSP sees lower 2019 inflation

With or without the suspension of the excise tax on fuel, inflation forecast for 2019 of 3.5 percent could still be brought down on the back of declining oil and rice prices, according to a senior BSP official. BSP sees lower 2019 inflation Source link: BSP sees lower 2019 inflation.....»»

Category: newsSource:  manilainformerRelated NewsDec 2nd, 2018

BSP: Inflation likely eased in November 2018

Inflation may ease this month from a near-decade high of 6.7 percent in October due to the sharp decline in oil prices, improving supply of rice and other commodities, and the strong rebound of the peso, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsNov 29th, 2018

BSP sees November inflation slowdown

INFLATION likely slowed sharply in November from a nine-year peak, the central bank said on Thursday, citing falling oil prices and improved rice supply despite higher transport fares......»»

Category: newsSource:  bworldonlineRelated NewsNov 29th, 2018

MB member cites ebbing price pressures

INFLATION PRESSURES “have subsided” after overall price increases hit a nine-year peak the last two months, according to a member of the central bank’s policy-making Monetary Board, even as he cited the need to lift import restrictions for rice soonest as a key step to keep such pressures at bay......»»

Category: newsSource:  bworldonlineRelated NewsNov 28th, 2018

Prepare for influx of cheap imported rice, farmers told

LUCENA CITY --- With the passage of the rice tariffication bill, the farmers should exert efforts to be more competitive against the expected flood of cheap imported rice, Sen. Cynthia Villar said. "Even if the government has its program but if the farmers themselves will not fight it out ... the farmers should be more competitive. It cannot be done by the government alone. It has to be done with the help of the farmers," Villar, chair of the Senate committee on agriculture and food, said in an interview here Saturday afternoon. Lower rice prices The senator said amid the rising inflation in the country, the price of rice might be lowered once the bill was signed into law due to...Keep on reading: Prepare for influx of cheap imported rice, farmers told.....»»

Category: newsSource:  inquirerRelated NewsNov 25th, 2018

Bicameral body OKs rice tariffs

  A bicameral conference committee has approved a bill that imposes a tariff on rice aimed at bringing down the price of the staple and at reining in inflation, which has risen to a nine-year high over the past two months.   Tariff is a tax on imports.   Another bicameral committee also approved on Thursday the coco levy fund bill and the measure that strengthens the Philippine Coconut Authority (PCA).   The removal of import caps is expected to reduce the retail price of rice by P4 to P7 per kilogram, economic managers earlier said.   Rice prices account for 10 percent of the country's inflation, which rose to 6.7 percent in Septem...Keep on reading: Bicameral body OKs rice tariffs.....»»

Category: newsSource:  inquirerRelated NewsNov 22nd, 2018

NFA to allow private sector to import rice

The National Food Authority (NFA) has approved a measure allowing the private sector to import rice to help boost the country’s reserves and ease overall inflation, a Cabinet official said….READ The post NFA to allow private sector to import rice appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsNov 16th, 2018

Palace hails Senate passage of rice tariffication bill

      Malacaang on Thursday praised the Senate for passing on third and final reading the Rice Tariffication Bill. Voting 14-0, the Senate passed on Wednesday Senate Bill No. 1998, which seeks to replace the present quotas on rice importation with rice tariffs instead. The measure, sponsored by Senator Cynthia Villar, is expected to help alleviate the impact of the nine-year high inflation in September and October and address the country's rice shortage. "The Palace expresses its gratitude to the Senate for passing on third and final reading the Rice Tariffication Bill," Presidential Spokesperson Salvador Panelo said in a statement. READ:Senate app...Keep on reading: Palace hails Senate passage of rice tariffication bill.....»»

Category: newsSource:  inquirerRelated NewsNov 15th, 2018

Senate approves bill lifting rice import limits

MANILA, Philippines – Voting 14-0, the Senate approved on Wednesday, November 14, the bill seeking to lift restrictions on rice importation to help address the country's soaring inflation . Senate Bill No. 1998 or the rice tariffication bill seeks to amend Republic Act (RA) No. 8178 or the Agricultural Tariffication Act ........»»

Category: newsSource:  rapplerRelated NewsNov 15th, 2018

Senate gives final green light for rice tariff bill

THE SENATE on Wednesday approved on third and final reading a bill that will liberalize rice importation -- a measure the government is counting on to cut retail prices of the staple by about P7 per kilogram and slash 0.7 percentage point off headline inflation which has lately been clocking multi-year peaks......»»

Category: newsSource:  bworldonlineRelated NewsNov 14th, 2018

Impact of TRAIN Law to students and education

By: Renelyn L. Labos SHORTAGE of budget and rise in public utility fare plus inflation of goods, some basic commodities such as rice, groceries, and beverages are the things that brought by an act called TRAIN Law. Nowadays, we are trying to adjust and strive with the changes that are happening in our society, especially with […] The post Impact of TRAIN Law to students and education appeared first on The Daily Guardian......»»

Category: newsSource:  thedailyguardianRelated NewsNov 7th, 2018

DOF sees inflation easing to 6.5% in Oct

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......»»

Category: financeSource:  philstarRelated NewsNov 5th, 2018

Workers group slams Diokno anti-farmers statement

ALU-TUCP called on Budget Secretary Benjamin Diokno to retract his statement on a live televised interview implying that Filipino rice farmers can be sacrificed in the fight against inflation......»»

Category: newsSource:  samarnewsRelated NewsNov 4th, 2018

Despite high prices, 3 of 4 Pinoys think PH in right direction–SWS

Despite a record 6.7-percent inflation rate in September and escalating rice prices because of limited supply, three out of four Filipinos still believe that the country is headed in the right direction, the latest Social Weather Stations (SWS) survey showed.   The survey, conducted from Sept. 15-23, found that 75 percent of the 1,500 respondents believe the country was moving in the right direction, up 5 points from 70 percent in June.   Respondents who said the country was heading in the wrong direction were 22 percent in September, down from 25 percent in June.   "The Palace welcomes the results of [this] third quarter survey ... [and views] it as ...Keep on reading: Despite high prices, 3 of 4 Pinoys think PH in right direction–SWS.....»»

Category: newsSource:  inquirerRelated NewsOct 27th, 2018

Oil tax hike suspension, rice tariffication may bring inflation below 4% next year

The planned suspension of a further increase in excise tax on fuel products coupled with the lifting of import limits on rice could bring inflation back on target starting next year, a central bank official said Wednesday......»»

Category: financeSource:  philstarRelated NewsOct 24th, 2018