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.
Inflation in the Philippines could ease further in April, following a drop to 1.8 percent in March—the slowest pace since May 2020—if rice prices continue to decline in the latter half of the month.
The country's rice stocks inventory was estimated at 1.61 million metric tons at the start of March, an 18 percent increase from the 1.37 million metric tons recorded in the same period last year.
Philippine inflation decelerated to 1.8 percent in March, its slowest pace since the 1.6 percent registered in May 2020 when the economic activities was challenged by the COVID-19 pandemic-related lockdowns. This decline, down from 2.1 percent in February, was largely driven by lower food prices, particularly rice, which saw a significant annual decrease.
The total volume of rice the Philippines will import in the first quarter is likely to be significantly lower compared to the same period in 2024, as local farmers begin the harvest season and traders hold off on imports, awaiting further softening of global prices.
The Philippine Communications and Telecommunications Operators (PCTO) has called on President Ferdinand Marcos Jr. to exercise caution before signing the proposed “Konektadong Pinoy Bill” into law, warning that the measure in its current form could undermine the very goals it seeks to achieve.
New NAIA Infrastructure Corp. (NNIC), the private operator of Ninoy Aquino International Airport, has swiftly rolled out stricter transport and passenger protection measures following a viral incident involving an unauthorized taxi grossly overcharging a traveler for an inter-terminal ride.
PrimeWater San Jose del Monte (SJDM), in partnership with the San Jose del Monte Water District, is set to complete a major transmission line extension project in Bulacan by the end of June, marking a significant milestone in the city's water infrastructure development.
The recent escalation of conflict in the Middle East, following U.S. military involvement in Israel-Iran tensions, is expected to add upward pressure on global oil prices due to rising insurance and freight costs, according to Jetti Petroleum Inc. president Leo Bellas.