Inflation in the Philippines is expected to continue its downward trend in May, with the Bangko Sentral ng Pilipinas (BSP) projecting a year-on-year rate between 0.9 percent and 1.7 percent, the central bank said Friday.
Seasonal patterns boosted chicken and tilapia production in the first quarter but weighed on output of hogs, bangus, and galunggong, according to the Philippine Statistics Authority (PSA).
Yields on treasury bills continued their downward trend at Monday’s auction, driven by expectations of further monetary policy easing amid signs of cooling inflation.
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Rice prices continued to ease in early May, indicating a potential further slowdown in inflation after headline inflation decelerated in April to its slowest pace since November 2019.
Treasury bill yields fell across all tenors at Monday’s auction, as the sharp deceleration in April inflation heightened expectations of potential monetary policy easing.
Agriculture Secretary Francisco P. Tiu Laurel Jr. expressed confidence in a better second-quarter performance for agriculture, as improved weather conditions and stronger, more timely interventions ordered by President Ferdinand Marcos Jr. are expected to drive a significant rise in rice and corn output.
President Donald Trump said Saturday that the U.S. had launched strikes on three sites in Iran, backing the ongoing effort of Israel to cripple Tehran’s nuclear program. It is a bold and risky action, aimed at a long-time adversary, and comes after more than a week of Israeli attacks that have targeted the air defenses and missile systems of Iran. Iran has yet to responded publicly, but the US attack raises fears that any retaliation could quickly spiral into a broader regional conflict. The White House said Trump will make a national address on the military action.
Agriculture Secretary Francisco P. Tiu Laurel Jr. expressed deep gratitude to the Philippine Embassy in Israel and other government agencies for ensuring the safe return of four Department of Agriculture (DA) officials who were stranded in Israel after renewed tensions with Iran.