Monthly inflation rate is expected to reach 5 percent in the second and third quarters of 2010, but still within the full-year target range of 3.5 percent to 5.5 percent, the Bangko Sentral said Friday.
Deputy Gov. Diwa Guinigundo said inflation would average 4.7 percent in 2010 and 3.3 percent in 2011. These rates are higher than the full-year average of 3.2 percent in 2009.
The forecasts had taken into account the anticipated occurrence of mild El Niño phenomenon, which could cause tight supply of agricultural products in the domestic market, he said.
Guinigundo said the forecast also considered the increase in utility cost. “For 2010, we expect some adjustments in power rates and water rates,” he said.
He said the central bank’s inflation forecasts assumed the peso would trade at 46 to 48 against the US dollar this year and 46 to 49 against the greenback next year.
Antonio Cintura, director of the bank’s department of economics, noted that inflation rate softened to 4.3 percent in January from 4.4 percent in December.
Inflation began picking up in the fourth quarter of 2009, as weather-related disturbances led to higher prices of food products and as oil prices moved up in the world market. Roderick T. dela Cruz, Manila Standard Today
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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