ECONOMIC managers on Tuesday doused fears that the latest wage hike order would fuel inflation.
The Bangko Sentral ng Pilipinas (BSP) said its baseline forecast of manageable inflation for this year and 2011 could likely hold despite the P22 increase in the minimum wage for Metro Manila.
BSP Governor Amando Tetangco Jr. said the policy-making Monetary Board already factored in a P25 increase for implementation in June for forecast purposes.
In a text message, Dennis Arroyo, director of the National Planning and Policy Staff of the National Economic and Development Authority agreed that no inflationary spell should be expected from the latest wage adjustment.
The latest wage order would increase the daily take home pay of workers at the capital region to P404 from the current P382.
Had the government approved a higher salary increase, Tetangco said its impact on the inflation outlook would still depend on the timing of implementation.
“If it’s, say, implemented in the second half, then the impact would be for just half of the year. So it’s both the amount and the timing. We review the forecast every meeting, if there will be a decision by the next meeting, then probably that will be factored into the new inflation forecast at that time,” he had said.
Last week, the BSP had revised its baseline inflation forecast to 5.1 percent from 4.64 percent this year and to 3.7 percent from 3.45 percent in 2011, assuming there would be no more than a P25 wage increase, a 50-centavo fare adjustment for jeepneys, a P10 adjustment in taxis’ flag down rate, and lower oil prices.
Jimmy Pesigan, chief of the Land Transportation and Franchising Regulatory Board said the agency has yet to set a public hearing in the next few weeks to decide on the petition to increase jeepney and taxi fares.
The Federation of Jeepney Operators and Drivers Association of the Philippines earlier filed a P0.50 fare hike, while taxi operators are asking for an additional P10 flag down rate. –Lailany P. Gomez and Darwin G. Amojelar, Manila Times
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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