The country's annual inflation rate dipped slightly to 1.3 percent in May, down from 1.4 percent in April, according to data released by the Philippine Statistics Authority. While the decline is modest, it marks a continued deceleration in price increases, indicating a slower pace of inflationary momentum.
National rice stocks at the start of May were estimated at 2.37 million metric tons, marking a 14 percent increase compared to the same period last year. This growth was primarily driven by the aggressive palay procurement efforts of the National Food Authority (NFA).
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 Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, is set to issue peso-denominated fixed-rate bonds under its ongoing ₱40-billion Bond Program.
The Department of Energy (DOE) expressed optimism for increased oil and gas investments following a recent Supreme Court (SC) ruling on the Malampaya natural gas project.
Motorists and transport operators should brace for another round of fuel price hikes this week, with oil firms expected to implement significant upward adjustments across all fuel products starting Tuesday.
The Philippines reported a 14 percent increase in pineapple exports in 2024, shipping around 680,000 metric tons (MT) compared to 600,000 MT in 2023, according to the UN Food and Agriculture Organization (FAO).