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Inflation rate in EV increases to 2.8 percent in February 2021

Inflation Rate (IR) in Eastern Visayas increased to 2.8 percent in February 2021. This IR is 1.1 percentage points higher compared with the 1.7 percent IR in January 2021......»»

Category: newsSource: samarnews samarnewsJul 22nd, 2021

Gov’t moves to control inflation uptick

The government is intensifying efforts to control the “temporary” price increases of goods, Malacañang said Saturday, after the Philippines’ inflation rate rose to a 26-month high, making it the highest among major economies in Southeast Asia. The Philippines’ inflation rate quickened to 4.7 percent in February 2021, the fastest increase since the 5.1 percent recorded […] The post Gov’t moves to control inflation uptick appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMar 6th, 2021

Feb 2021 Inflation Aimed at 4.7%

Inflation rate for February 2021 is forecast to increase between 4.3-percent and 5.1-percent, higher that the 4.2-percent inflation rate in January. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno cites 4.7-percent as the point inflation figure for February. the central bank chief said that the rate of price increases this month are due to the […].....»»

Category: sportsSource:  abscbnRelated NewsFeb 27th, 2021

EV welcomes 2021 with 2.2 percent inflation rate

Eastern Visayas welcomed January 2021 with a 2.2 percent Inflation Rate (IR). This IR is 0.2 percentage point lower compared with the 2.4 percent IR in December 2020......»»

Category: newsSource:  samarnewsRelated NewsMay 28th, 2021

PH Employment Rate to Increase as Economy Reopens

Employment rate in the Philippines is seen to rise as the reopening of the economy and the increase in infrastructure expenditures continues, according to the Philippine Statistics Authority (PSA). The country’s unemployment rate plunged from 8.8 percent in February 2021 to a better number of 7.1 percent last March 2021, a stark decline of 1.7 […].....»»

Category: newsSource:  metrocebuRelated NewsMay 10th, 2021

Elevated

The inflation rate for February crawled up to 4.7 percent and most analysts are saying it will continue on an elevated level over the next few months......»»

Category: newsSource:  philstarRelated NewsMar 9th, 2021

Positivity rate in Cebu City reaches 9.95%

CEBU CITY, Philippines — The number of patients proving positive per batch of tested individuals have increased significantly in Cebu City.  The positivity rate as of February 5, 2021 has reached 9.95 percent, which is almost double the pandemic threshold of the World Health Organization (WHO).  Councilor Joel Garganera, deputy chief implementor of the Emergency […] The post Positivity rate in Cebu City reaches 9.95% appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsFeb 5th, 2021

DBCC opts to keep inflation target at 2% to 4% until 2024

Inflation rate, or the movement in consumer prices, is expected to remain stable over the next four years as the interagency Development Budget Coordinating Committee and the Bangko Sentral ng Pilipinas decided to retain the inflation target range of 2 percent to 4 percent for 2021 to 2024......»»

Category: sportsSource:  abscbnRelated NewsDec 21st, 2020

Inflation rate in EV increases to 1.7 percent in July 2020

Inflation Rate (IR) in Eastern Visayas increased to 1.7 percent in July 2020. This IR is 0.6 percentage point higher compared with the 1.1 percent IR in June 2020......»»

Category: newsSource:  samarnewsRelated NewsNov 12th, 2020

Maynilad, MWC shelve rate adjustments for 2021

Maynilad Water Services, Inc. (Maynilad) and Manila Water Company, Inc. are forgoing some water rate increases they are qualified to implement in the coming year, including the next tranche of the rate rebasing adjustment as well as the mandated Consumer Price Index (CPI) adjustment.  This was announced separately by both companies on Tuesday. In a text message, Metropolitan Waterworks and Sewerage System (MWSS) Chief Regulator Patrick Ty said the MWSS-Regulatory Office (MWSS-RO) has been discussing this matter with both Maynilad and Manila Water since the start of this year. “We just received the proposals of the two Concessionaires and we are currently evaluating them,” Ty said.  In a statement, Maynilad said that with this deferral, the company “hopes to alleviate the day-to-day struggles of its customers as they and the whole country strive to recover from adversity and rise stronger than before, ready to start anew”. “During these difficult times when no one is spared the economic impact of the COVID-19 pandemic, Maynilad is one with the government in finding ways to help our countrymen make the situation more manageable,” it also said. Manila Water, on the other hand, said “in the spirit of Bayanihan and to alleviate the plight of our customers due to the pandemic, Manila Water will not be implementing the rate adjustment in 2021 under the approved 2018 Rate Rebasing.” Done every five years, rate rebasing is review of water utilities’ past performance and the projection on their future cash flows.  It is supposed to set the water rates at a level that would allow both Maynilad and Manila Water to recover their expenditures and earn a rate of return. For 2020, Maynilad and Manila Water also volunteered to defer the implementation of the next tranche of annual rate hike approved under the current rate rebasing period, which started in 2018.  Their decision came as both companies were being scrutinized by no less than President Rodrigo Duterte for their allegedly onerous contracts with MWSS. To be implemented in tranches from 2018 to 2022, the approved increase in Maynilad’s rates under the fifth rate rebasing period would be P5.73 per cubic meter (/cu. m.). For this year, it was supposed to increase its rates by P1.95/cu.m, then another P1.95/cu.m in 2021.    As for Manila Water, the increase in its rates under rate rebasing would play around P6.22 to P6.55/cu.m.  This year, it was supposed to increase its rates by P2/cu.m, and another P2/cu.m by 2021.  By 2022, depending on the medium-term water sources project that the company will be allowed to pursue, the Ayala-led firm could charge its customers an increase of P0.76/cu.m up to P1.04/cu.m. The CPI adjustment, on the other hand, is the annual inflation adjustment and takes place every January. Maynilad is the largest private water concessionaire in the Philippines in terms of customer base.  It is the agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province.  Meanwhile, Manila Water caters to the East Zone concession area covering the Cities of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig and Marikina. It is also in charge of the southeastern parts of Quezon City, and Sta. Ana and San Andres in Manila. In the Province of Rizal, MWCI services the City of Antipolo and Municipalities of San Mateo, Rodriguez, Cainta, Taytay, Teresa, Angono, Baras, Binangonan, and Jala-jala......»»

Category: newsSource:  mb.com.phRelated NewsNov 3rd, 2020

BSP sees October inflation steady at mid-point range of 2.3%

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Friday inflation rate in October likely remained benign and steady at 2.3 percent, the mid-point of the bank’s forecast range, on slower increases in the prices of rice and fuel......»»

Category: financeSource:  thestandardRelated NewsOct 30th, 2020

Inflation rate slowed down slightly to 2.3% in September

Inflation rate in September decelerated to a four-month low of 2.3 percent from 2.4 percent in August, pulled down by slower increases in the prices of food and non-alcoholic beverages despite the lingering impact of the COVID-19 pandemic, the Philippine Statistics Authority said Tuesday......»»

Category: financeSource:  thestandardRelated NewsOct 6th, 2020

Inflation rate in EV increases to 2.5 percent in April 2020

Inflation Rate (IR) in Eastern Visayas increased to 2.5 percent in April 2020. This IR is 0.3 percentage point higher compared with the 2.2 percent IR in March 2020......»»

Category: newsSource:  samarnewsRelated NewsAug 26th, 2020

WHO warns of drawn out pandemic as South Africa cases top 500,000

The UN health agency warned that the coronavirus pandemic would be lengthy and could lead to “response fatigue”, as the case count in South Africa topped half a million. Although many Latin American countries have begun relaxing stay-at-home measures, the virus is still spreading quickly across much of the region Six months after the World Health Organization declared a global emergency, the novel coronavirus has killed more than 680,000 people and infected more than 17.5 million, according to an AFP tally. South Africa is by far the hardest hit country in Africa, accounting for more than half of diagnosed infections, although President Cyril Ramaphosa said the fatality rate is lower than the global average. Health authorities had been expecting a surge in cases after the gradual loosening of a strict lockdown that was imposed at the end of March. Nigeria on Saturday also announced it would ease a lockdown in the commercial capital Lagos, allowing churches and mosques to reopen next week.  An emergency WHO committee reviewing the pandemic “highlighted the anticipated lengthy duration of this COVID-19 outbreak, noting the importance of sustained community, national, regional, and global response efforts”. “WHO continues to assess the global risk level of COVID-19 to be very high,” it said in its latest statement. The agency also said the effects of the pandemic “will be felt for decades to come”. Mexico overtook Britain to become the third hardest hit country in virus deaths — after Brazil and the United States — with more than 46,600 fatal cases. Although many Latin American countries have begun relaxing stay-at-home measures, the virus is still spreading quickly across much of the region, which has now recorded more than four million cases and almost 200,000 deaths. Half of them are in Brazil, where President Jair Bolsonaro said he believes “nearly everyone” will catch the virus eventually, after himself recovering from it. The US, the hardest-hit country in the world, has now tallied more than 4.6 million cases and 154,319 deaths. Vaccine race The outlook was bleak in Asia as well, where India and the Philippines reported record increases in new daily infections. “We are waging a losing battle against COVID-19, and we need to draw up a consolidated, definitive plan of action,” said an open letter signed by 80 Filipino medical associations. Japan’s Okinawa declared a state of emergency after a record jump in cases on the islands — many linked to US military forces stationed there. The pandemic has spurred a race for a vaccine with several Chinese companies at the forefront, while Russia has set a target date of September to roll out its own medicine. However, US infectious disease expert Anthony Fauci said it was unlikely his country would use any vaccine developed in either nation. “I do hope that the Chinese and the Russians are actually testing the vaccine before they are administering the vaccine to anyone,” he said. As part of its “Operation Warp Speed”, the US government will pay pharmaceutical giants Sanofi and GSK up to $2.1 billion for the development of a COVID-19 vaccine, the companies said. ‘Day of freedom’ France, Spain, Portugal and Italy all reported huge contractions in their economies for the April-June quarter, while Europe as a whole saw gross domestic product fall by 12.1 percent.  Daily case numbers in Switzerland have crept up again in recent weeks, while Norway recorded its first virus death in two weeks. At least 36 crew members confined to a Norwegian cruise ship have tested positive for the new coronavirus, the operator Hurtigruten said on Saturday.  Despite the resurgence in cases, there have been demonstrations in Europe against the curbs.  Thousands protested in Berlin on Saturday urging “a day of freedom” from the restrictions, with some demonstrators dubbing the pandemic “the biggest conspiracy theory”. In South Korea, the elderly leader of a secretive sect at the centre of the country’s early coronavirus outbreak was arrested for allegedly hindering the government’s effort to contain the epidemic. People linked to Lee Man-hee’s Shincheonji Church of Jesus accounted for more than half of the South’s coronavirus cases in February and March, but the country has since appeared to have brought the virus under control. The pandemic has also continued to cause mayhem in the travel and tourism sectors, with more airlines announcing mass job cuts. Latin America’s biggest airline, the Brazilian-Chilean group LATAM, said it would lay off least 2,700 crew, and British Airways pilots overwhelmingly voted to accept a deal cutting wages by 20 percent, with 270 jobs lost......»»

Category: sportsSource:  abscbnRelated NewsAug 2nd, 2020

Inflation rate in EV rises to 2.2 percent in March 2020

Inflation Rate (IR) in Eastern Visayas rose to 2.2 percent in March 2020. This IR is 0.3 percentage point higher compared with the 1.9 percent IR in February 2020......»»

Category: newsSource:  samarnewsRelated NewsJul 26th, 2020

June inflation rate reached 3-month high of 2.5%& mdash;PSA

Inflation rate in June 2020 picked up to a three-month high of 2.5 percent from 2.1 percent in May, led by increases in transport, alcoholic beverage, tobacco and fuel prices, the Philippine Statistics Authority said Tuesday......»»

Category: financeSource:  thestandardRelated NewsJul 8th, 2020

Keep close watch on market prices

  FOR four months starting in February this year, as the coronavirus started affecting business and industry in the Philippines and some other countries, notably China and Singapore, inflation – market prices – in the Philippines eased to a low of 2.1 percent in May. Last month, the inflation rate rose slightly to 2.2 percent […].....»»

Category: newsSource:  tempoRelated NewsJul 6th, 2020

Private economists cut inflation forecasts

Economists of private banks lowered their 2021 inflation forecasts to 4.1 percent from the original target of 4.3 percent as prices start to move toward the two to four percent target of the Bangko Sentral ng Pilipinas for the rest of the year......»»

Category: financeSource:  philstarRelated NewsJul 26th, 2021

June inflation eased to 4.1% as prices of meat stabilized

Inflation rate eased to 4.1 percent in June from 4.5 percent in the past three months, as policy interventions to stabilize commodity prices started to take effect, the National Economic and Development Authority said Tuesday......»»

Category: financeSource:  thestandardRelated NewsJul 6th, 2021

Inflation seen averaging 5.3% in 2021 – think tank

Inflation for the year is seen breaching the government’s upper target and to average at 5.3 percent, more than double the 2020 level, as elevated oil prices and meat supply remain a concern, a foreign think tank said......»»

Category: financeSource:  philstarRelated NewsJun 28th, 2021

Global inflation in April exceeded the highest rate since 2008 – Prensa Latina

According to the Organization for Economic Cooperation and Development, higher energy prices pushed annual inflation to 3.3 percent in April, compared to 2.4 percent in.....»»

Category: newsSource:  thedailyguardianRelated NewsJun 3rd, 2021