(UPDATE) INFLATION eased to 3.9 percent in December, sustaining a two-month downtrend, the Philippine Statistics Authority reported on Friday.The December inflation rate was down from November s 4.1 percent and was also significantly lower than last year s 8.1 percent.It was within the 3.6 to 4.4-percent range of the Bangko Sentral ng Pilipinas (BSP) and lower than the 4.0-percent median in a Manila Times poll of economists. It was also the slowest rate since February 2022. The downtrend in the overall inflation in December 2023 was primarily brought about by the lower year-on-year growth in the index of housing, water, electricity, gas and other fuels at 1.5 percent in December 2023 from 2.5 percent in the previous month, the PSA said.Food and alcoholic beverages accounted for a little over half 53 percent share or 2.1 percentage points of overall inflation.Food inflation fell to 5.5 percent from 5.8 percent in November, which the PSA attributed to a 9.2-percent drop in the price
(UPDATE) INFLATION accelerated to 6.1 percent in September amid a sharp increase in key food items and transport costs, the Philippine Statistics Authority (PSA) reported on Thursday.
While mining companies oppose the new mining tax regime, anti-mining groups are pushing for more provisions to be at par with other countries and to put further protection on environment.