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9/12/13 11:12 PMInflation dips to 4-year low in August despite bad weather, oil price hikes - InterAksyon.com
Page 1 of 4http://www.interaksyon.com/business/70095/inflation-dips-to-4-year-low-in-august-despite-bad-weather-oil-price-hikes
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Inflation dips to 4-year low in August
despite bad weather, oil price hikes
By: Maricel E. Burgonio and Darwin G. Amojelar, InterAksyon.com
September 5, 2013 10:26 AM
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MANILA - (UPDATE 3, 5:56 p.m.) Consumer price increases decelerated last
month despite bad weather and oil price hikes.
In a report, the National Statistics Office today said inflation dipped to 2.1 percent
in August from 2.5 percent last July, making last month's figure the lowest since
August 2009 (see infographic below). Last month's headline figure brought the
eight-month average to 2.8 percent, well below the 3-5 percent full-year target
range of the Bangko Sentral ng Pilipinas (BSP).
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Socioeconomic Planning Secretary Arsenio M. Balisacan said lower inflation was
observed in food and petroleumproducts despite the peso depreciation and
weather disturbances during the period.
"Despite the adverse effects of typhoon Labuyo and tropical storm Maring,
inflation rate of most food items declined on an annual basis. In Metro Manila,
prices of meat and several vegetable items were even lower than in the previous
year," he said.
The average price of vegetables was lower by 2.6 percent compared to a year
ago, while slower price hikes were recorded for meat, fish, fruits and other food
products and beverages.
Last month's inflation also was near lower end of the BSP forecast range for the
month of 1.9-2.7 percent.
BSP Governor Amando M. Tetangco Jr. said the August figure supports the
central bank's assessment of a benign inflation environment.
"BSP will closely monitor developments, particularly geopolitical concerns in the
Middle East that may impact on the international prices of commodities," he said.
Tetangco said the BSP "has room in its policy tool kit to mitigate potential adverse
effects coming from these factors."
The central bank has kept its policy rates at record lows of 3.5 percent and 5.5
percent for the overnight borrowing and lending windows since the start of the
year. The yields on its special deposit accounts likewise are at a record low of
two percent across the board.
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9/10/13 11:34 PMNumber of jobless Filipinos swells in July despite record 2Q economic growth - InterAksyon.com
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Number of jobless Filipinos swells in
July despite record 2Q economic
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By: Arnold S. Tenorio, InterAksyon.com
September 10, 2013 9:10 AM
(InterAksyon.com)
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MANILA - (UPDATED 7:07 p.m.) The number of jobless Filipinos climbed despite
the record economic expansion in the second quarter of the year.
In the July round of its Labor Force Survey, the National Statistics Office (NSO)
said the unemployment rate hit 7.3 percent, up from seven percent in the same
month last year.
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10-Sep-2013, 10:37 PM : Review of BSP inflation forecast set after wage hike
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This was despite the 7.5 percent growth in the country's gross domestic product
(GDP) in the second quarter of this year - one of the fastest in Asia and way
above the government's full-year target range of 6-7 percent.
The second-quarter GDP growth was faster than the 6.3 percent a year ago, so
brisker economic expansion this year didn't translate to more jobs.
Socioeconomic Planning Secretary Arsenio Balisacan blamed the uptick in
unemployment on job losses in the accommodation and food service subsector,
where 238,000 jobs were lost. Also shedding jobs were manufacturing at 28,000;
mining and quarrying, 14,000; as well as in water supply, sewerage, waste
management and remediation, 6,000.
Balisacan also blamed unemployment on the faster growth in the labor force at
1.9 percent to 64.5 million this year from 63.1 million last year.
He said the unemployed were predominantly young and lacking in skills and
experience required by employers. Of the total number of jobless Filipinos, 32.8
percent were high school graduates, while 21.8 percent were college graduates
with 21.8 percent. College undergraduates comprised another 13.6 percent.
"Though quite contrary to expectations given the Philippine economy’s recent
growth performance, these developments are not entirely unusual. As the
economy grows and its structure transforms, it is normal, as shown by
experiences of other emerging economies, for employment to exhibit volatility as
labor markets adjust," Balisacan said.
"Growth tends to increase optimism among the working-age population such that
more people become inclined to look for work. This may thus result in an increase
in unemployment rate at certain times during the process of structural change,"
he said.
NSO data however show that the labor force participation slipped to 63.9 percent
this year from 64 percent last year, indicating that the number of job-seeking
Filipinos had declined.
The underemployed -- or those Filipinos who have jobs but are still looking for
additional income -- slipped to 19.2 percent this year from 22.8 percent in 2012.
Balisacan however admitted that "this decline does not indicate a sustainable
downtrend."
"Ultimately, these figures show that employment creation remains a big challenge
in the country. This is why it is necessary to accelerate the revival of the
manufacturing subsector, [which] has the highest backward and forward linkages
with the other production sectors of the economy," he said.
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9/10/13 11:36 PMYour share of the national debt at end-June: P59,250 - InterAksyon.com
Page 1 of 3http://www.interaksyon.com/business/68801/your-share-of-the-national-debt-at-end-june-p59250
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Your share of the national debt at
end-June: P59,250
By: Rain Castro, InterAksyon.com
August 17, 2013 8:26 PM
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MANILA - Each Filipino's share in the government's debt burden last June got a
little heavier from a month ago.
Data from the Bureau of Treasury showed the government's unpaid debt rising by
seven percent from P5.101 trillion in June last year to P5.451 trillion in the same
month this year.
With an estimated 92 million Filipinos, the per capita burden at end-June amounts
to P59,250 or P946 more than the P58,304 at end-May.
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The increase in every Pinoy's share in the national debt stemmed from the 14.8
percent hike in the amount of money the government borrowed from local
sources, mostly banks and other financial institutions that regularly participate in
the Treasury's auction.
Sixty-four out of every P100 in government debt outstanding at end-June was
owed to local lenders, with the remaining P36 due foreign creditors.
The higher borrowing from local sources was tempered by the five percent drop
in fresh debt incurred from foreigners.
The government borrows money to make up for shortfalls in tax revenues, which
leads to budget deficits. At end-May, the fiscal gap stood at P42.83 billion.
Besides financing the deficit, government takes out fresh loans to pay down
maturing obligations, which reached P146.38 billion at end-May.
The government expects its debt to reach P5.779 trillion this year, an amount
equal to 48 percent of the country's gross domestic product (GDP).
A measure of economic performance, GDP is the amount of final goods and
services produced in the country.
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Feliz Incluso Solo · IT at Tech-Synergy Voice Transcription and Business
support solutions
dapat lang.. parusahan yang mga wlang hiyang nagnakaw at
gumastos...ng pira na hidi nman sa kanila...pinaghrapan at
pinagsikapan yan ng bawat pilipino! wlang hiya tlaga!
Reply · Like · August 19 at 7:34pm
Enom Anda · MIT
tang inang yan! di pa pinanganganak ang isang juan may utang na?
dahil sa pagnanakaw ng mga hinayupak na mambabatas na yan sa
gobyerno! pangulong noynoy, sana naman ay gawan mo ng paraan na
huwag manakaw ang pera namen, ang mga buwis namen na galing sa
dugo't pawis namen! kailangan may maparusahan sa scam na yan!
Reply · Like · August 18 at 1:02am
Mela Aguas Punzalan
d kapa pinapanganak...may utang ka na!
Reply · Like · August 19 at 12:47am

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