Inflation

MANILA, Philippines –  Higher fuel prices and news of an impending rise in electricity rates greeted consumers yesterday, sparking fears of sharper increases in the costs of basic goods and services in the coming days.

MANILA, Philippines – Singapore-based investment bank DBS has raised its Philippine inflation forecasts this year and next due to escalating global oil and commodity prices that would prompt the Bangko Sentral ng Pilipinas (BSP) to further raise interest rates this year.

OVER the past few months, the rise in food prices worldwide has put agriculture officials, traders, sellers and consumers on edge as it recalled memories of the food crisis three years ago.

Metro Rail Transit (MRT) and Light Rail Transit (LRT) fares still remain the same at the moment as the implementation date of the proposed fare increase is still undecided, an official of the Department of Transportation and Communications (DoTC) said.

THE Bangko Sentral ng Pilipinas (BSP) on Tuesday said inflation will likely exceed its target range in the coming months.

MANILA, Philippines –  The Bangko Sentral ng Pilipinas (BSP) sees inflation breaching the higher end of its full-year target of three percent to five percent in the next few months due to escalating global oil and food prices.

Bangko Sentral Governor Amando Tetangco Jr. conceded Tuesday that inflation rate may exceed the government’s target range by the second or third quarter this year, which could prompt the monetary board to raise further its borrowing cost.

MANILA, Philippines – Citing increases in fuel prices and the recent turmoil in oil-producing countries that have “burdened” the transport sector, the Land Transportation Franchising and Regulatory Board (LTFRB) has granted a P1 provisional increase in fares for buses in Metro Manila.

MANILA, Philippines – Monetary authorities expect inflation to peak either in the second or third quarter of the year as the Bangko Sentral ng Pilipinas (BSP) sees consumer prices in March averaging between four percent and five percent due to escalating global oil and food prices.

THE Bureau of the Treasury on Monday allowed the cost of three-month borrowing to rise, underpinning expectations that the central bank would tighten monetary policy on March 24.

MANILA, Philippines – UK-based Credit Suisse sees the country’s inflation kicking up to 5.4 percent this year, breaching the higher end of the three percent to five percent target set by the Bangko Sentral ng Pilipinas (BSP).

Partly-list group United Transport Koalisyon (1-Utak) yesterday asked for government assistance to help drivers and operators of public utility vehicles cope with the increasing oil prices and the projected drop in passenger load.

MANILA, Philippines –  Party list group 1 Utak sought yesterday government intervention in the rising prices of oil.

MANILA, Philippines –  The retail prices of sugar and cooking oil are going down despite the rising cost of petroleum, the Department of Trade and Industry (DTI) said.

MANILA, Philippines – US-based Citigroup has ruled out the possibility that inflation in the Philippines would hit double-digit levels — like what happened in 2008 — due to the steady rise in global oil prices.

THE Department of Trade and Industry (DTI) on Thursday appealed to the public to refrain from panic-buying, as it assured that there is a stable supply of commodities despite escalating global and domestic prices.

A foreign trade group warned yesterday against plans to impose price control on basic commodities amid rising prices, saying such a move would be detrimental to the country.

THE Metropolitan Bank and Trust Co. said the higher-than-expected February inflation points to a higher overall curve that may peak toward the end of the year.

Rising oil prices brought by the continuing tensions in Libya, which sits on the largest oil reserves in Africa, may push the Philippine inflation to as high as 8 percent by October, a Metrobank study has showed.

The narrowing real interest rate in the first two months of 2011 is now worrying the Bangko Sentral, which said it will definitely review its policy stance in its next meeting on March 24.

OIL companies raised pump prices for the third time in less than two weeks as international petroleum prices continued to rise.

MANILA, Philippines – New York-based think-tank Global Source Partners warned that the full-year inflation target of between three percent and five percent set by the Bangko Sentral ng Pilipinas (BSP) for this year could be breached due to the continued rise in global oil and food prices.

MANILA, Philippines – The government will not impose price controls despite the rise in the prices of basic commodities.

AFTER posting unprecedented growth in 2010, branded consumer food manufacturers expect a challenging year ahead amid steep rises in commodity prices.

MANILA, Philippines—The Philippines has been cited as one of the emerging Asian economies where price pressures are building most rapidly as rising incomes in the region boost demand and as prices of imported oil and other commodities post faster rates of increase.

THE Department of Trade and Industry (DTI) warned of higher prices of various basic necessities and prime commodities amid the unabated increase in global demand and prices.

MANILA, Philippines (Xinhua) – The Banko Sentral ng Pilipinas today has decided to keep its low interest rate environment as inflation remains at a manageable level.

THE Philippine central bank on Thursday maintained its key interest rates at record lows, but raised its inflation forecast for this year way past the mid-point of its target range on expectations that demand-side price pressures could develop in the near future.

MANILA, Philippines –  The Department of Trade and Industry (DTI) reported yesterday that prices of some basic food products including canned meat and noodles have gone up by as much as 10 percent, while the prices of bread and flour are also expected to increase.

MANILA, Philippines – Prices of electricity, gasoline and bread are going up. The Manila Electric Co. (Meralco) will raise its generation charge for this month by 11.84 centavos per kilowatt-hour (kWh) due to lower dispatch level from its power suppliers.