The average price of regular milled rice fell 20 percent year-on-year to P40.66 per kilo in the first half of August, potentially easing overall inflation if the downtrend holds through month-end.
Treasury bill yields declined at Monday’s auction as investors shifted focus back to short-term debt following the auction of five-year retail treasury bonds last week, and amid growing anticipation of potential monetary policy easing.
Inflation in the Philippines eased to its lowest level in six years in July, driven by falling prices of rice, other food items, and utilities. The headline inflation rate slowed to 0.9 percent, down from 1.4 percent in June, according to the Philippine Statistics Authority (PSA).
Treasury bill yields moved mostly lower at Monday’s auction, as investors braced for a raft of key economic reports that could influence future monetary policy direction.
Rice prices may continue to ease inflationary pressure this July, even as the cost of other key food items rises with the onset of the rainy season, according to preliminary data from the Philippine Statistics Authority (PSA).
The Department of Agriculture (DA) expects stronger agricultural and food industry ties after the Philippines took part in the World Food India 2025 event. On Monday, the agency said the participation could help the country expand its export markets and build new global partnerships.
Prime Infrastructure Capital Inc. (Prime Infra), led by tycoon Enrique Razon, has completed its ₱50-billion acquisition of a 60 percent stake in First Gen Corp.’s natural gas portfolio in Batangas City.
The Department of Finance (DOF) begins the week with a leadership change as Malacañang on Monday announced the appointment of Frederick L. Go as the agency’s new secretary. Go steps in following the resignation of Finance Secretary Ralph Recto, who has been swiftly promoted to Executive Secretary.
President Ferdinand Marcos Jr. on Monday accepted the voluntary resignations of Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman after their implication in a flood control anomaly, signaling a swift shake-up in Malacañang. Press Officer Claire Castro announced that Finance Secretary Ralph Recto will step in as Executive Secretary, while Budget Undersecretary Rolando Toledo has been named Officer-in-Charge of the Department of Budget and Management. To fill the vacuum at Finance, Presidential Adviser on Economic Affairs Frederick Go will take over Recto’s former post, marking a rapid realignment of the administration’s top economic managers.