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MANILA, Philippines — The impact of Executive Order 41 suspending the collection of local government units (LGUs)’ pass-through fees may be felt during the holiday season, according to the Metropolitan Manila Development Authority (MMDA).
The mandated price ceiling for rice has helped stabilize the prices of the staple in the market, President Ferdinand R. Marcos Jr. said on Saturday.
Senator Christopher "Bong" Go has urgently called on key government agencies, including the Department of Trade and Industry (DTI), Department of Social Welfare and Development (DSWD), and Department of Health (DOH), to address the pressing issues of rising inflation and increased spending on basic commodities affecting the Filipino populace.
In an interview on Thursday, October 5, during the World Teachers' Day celebration in Antipolo City, Senator Christopher "Bong" Go stressed the government's responsibility to keep rice and other commodities affordable for vulnerable communities amid rising inflation and after it has decided to lift the temporary price cap on rice.
Senator Win Gatchalian has emphasized the urgent need for government action to address the challenges posed by rising prices of basic commodities and to improve Filipinos' quality of life.
The Philippine Statistics Authority (PSA) [link] released its consumer price index (CPI) data for September, which revealed that headline inflation had risen to 6.1%, up from 5.3% in August. Core inflation fell to 5.9% from 6.1%. The result was just within the upper bound of the BSP’s expected range of 5.3% to 6.1%. The main driver of the increase was the cost of rice, with “rice inflation” at 17.9% in September. The raw CPI score for September was P123.90 for the same basket of goods and services which could have been purchased for P100.00 in 2018.
On the domestic front, we start the week off with MPI’s delisting today, and then... nothing. On the international front, we should hear about America’s initial jobless claims and consumer price index data for September on Friday morning.