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.
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.
The Philippine government has staged a strong return to the global bond markets, successfully pricing a multi-tranche U.S. dollar offering worth USD2.75 billion—its largest dollar deal in more than three years.
The maritime partnership between the Philippines and Norway remains one of the strongest pillars of bilateral relations, gaining renewed importance as the global shipping industry accelerates its green and digital transformation.
The Philippine healthcare information management services (HIMS) sector is projected to sustain a robust 9 percent annual growth rate through 2028, defying mounting pressures from artificial intelligence, automation, and geopolitical uncertainty.
The Baguio City government has sealed a 40-year lease with Megawide Construction Corporation for the P1.186-billion Baguio City Integrated Terminal (BCIT), marking the mountain resort city’s first venture under the public-private partnership framework and a milestone for local infrastructure delivery.