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.
Lower food prices in February contributed to a drop in inflation to 2.1 percent for the month. This was slower than both central bank and market forecasts, and marked a significant decline from 2.9 percent in January.
Palay production in the first quarter of 2025 is expected to reach 4.72 million metric tons, with higher yields offsetting a decrease in rice planting area, according to the latest estimate of the Philippine Statistics Authority (PSA).
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).