Business
Higher inflation seen

Published
5 months agoon

While the sustained increase in the cost of goods and services in the country was expected to remain manageable, a slight acceleration at its pace could be expected for the month of November.
Various private economists agreed over a 2.7 percent view for November, citing the recent weather disturbances to push prices higher, especially agricultural commodities.
Rizal Commercial Banking Corp. chief economist Michael Ricafort offered a 2.7 percent view for November inflation as the trend in global crude oil prices are increasing, which could lead to upward adjustments in local oil prices.
Still, Ricafort cited the recent temporary disruption to logistics and supply chains, in view of power/electricity, telecommunications and water outages to have led to a spike in prices for the month.
On the other hand, offsetting factors for inflation include the stronger peso, which stood 48.06 against the dollar on Friday, highlighting the possibility of a breach towards the 47 territory.
Security Bank Corp. chief economist Robert Dan Roces shared the same sentiment, pencilling a similar 2.7 percent outlook with a forecast range of 2.5 to 2.9 percent.
ING Bank senior economist Nicholas Mapa and Sun Life Philippines chief investments officer Michael Enrique cited the same 2.7 percent view for inflation owing to the same factors.
Meanwhile, Union Bank of the Philippines chief economist Carlo Asuncion casted a higher 3 percent projection for the month, quantifying the potential impact of the recent weather disturbances.
“We think that the typhoon-induced food price upticks, particularly in the Luzon area can augment the monthly headline inflation by 0.5 percentage point,” Asuncion said.
To recall, the Bangko Sentral ng Pilipinas expects inflation in November to settle within the 2.4 to 3.2 percent range, sitting well within the government’s 2 to 4 percent target band.

Red Cross receives donations for isolation facilities

Erap transferred to a regular room–Jinggoy

Scottie signs with World Balance; signature shoe coming soon

NDRRMC braces for `Bising’

Duterte signs law mandating cooperatives dev’t officers in LGUs

SC extends temporary closure of courts

Biden to withdraw all US troops from Afghanistan by September 11

Panelo warns public vs. fake Covid-19 vaccines

35 PSG members recover from Covid-19; active cases down to 10 from 45

Moderna Covid vaccine efficacy falls slightly to 90% in US trial

Pacquiao aims to extend shelf life

Wife’s loss sends mariner in despair

Better employment prospects seen

Migo Adecer quits showbiz, now Australia bound

Stop blaming each other, unite vs Covid — Go

Metro plus shifts to MECQ until 30 April

Rody surfaces, taunts critics

Kim Chiu’s biggest regret: Hindi nakapag-college

Country risks fiscal crisis with virus fight
