PH inflation eases to 4.8% in September — PSA

Aileen Cerrudo   •   October 5, 2021   •   238

MANILA, Philippines—Inflation in the Philippines eased to 4.8% in September from 4.9% recorded in August, the Philippine Statistics Authority (PSA) reported on Tuesday.

The latest headline inflation rate is at the lower end of the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 4.8 to 5.6% for September 2021, according to the National Economic and Development Authority.

The PSA also reported that the slower pace in the overall inflation in September 2021 was mainly due to the lower annual rate of increment in the transport index at 5.2% during the month, from 7.2% in the previous month.

Food inflation decreased to 6.5% in September from 6.9% in August due to slower inflation rates in rice, fish, and meat. Rice inflation recorded zero growth, following the issuance of EO 135. Likewise, fish inflation decelerated to 10.2% from 12.4%.

Socioeconomic Planning Secretary Karl Kendrick T. Chua  said, “The proactive implementation of Executive Order (EO) 133 and 134 have helped stabilize pork prices. The government is continuously accelerating and calibrating its implementation so we can further lower pork prices towards their pre-African Swine Fever level.”

The government adopted EOs 133 and 134 in May 2021 to help increase the supply of pork in the country amid its shortage due to the African Swine Fever (ASF). AAC

 

PSA: Inflation eased at 4.6% in October

Maris Federez   •   November 5, 2021

MANILA, Philippines —  The country’s headline inflation decelerated in October 2021, registering decreasing prices of basic goods and services, the Philippine Statistics Authority (PSA) announced Friday, November 5.

The PSA, in its Summary Inflation Report Consumer Price Index report, said the inflation eased further to 4.6 percent in October 2021 from 4.8 percent in September 2021.

It added that this brings the year-to-date inflation from January to October 2021 at 4.5 percent.

Inflation in October 2020 was posted at 2.5 percent.

“The main source of the downward trend of the October 2021 inflation was primarily due to the slower annual increment registered in food and non-alcoholic beverages index at 5.3 percent, from 6.2 percent in September 2021,” the agency said.

“Na-balance siya, nagkaroon tayo ng pagtaas sa petroleum and LPG na nagkaroon ng impact sa transport and component ng Household, Water, Electricity, Gas and other fuels, but the prices of food dropped. Of course, we saw that the meat prices particularly pork bumaba siya,” said Usec. Dennis Mapa, Philippine Statistics Authority head.

Contributing also to the downward trend in the overall inflation were the lower inflation recorded in the indices of the following commodity groups:

  • Alcoholic beverages and tobacco, 9.8 percent;
  • Education, 0.7 percent; and
  • Restaurant and miscellaneous goods and services; 3.8 percent.

On the other hand, inflation rates were higher in the indices of the following commodity groups:

  • Housing, water, electricity, gas, and other fuels, 4.4 percent;
  • Furnishing, household equipment, and routine maintenance of the house, 2.5 percent;
  • Health, 3.2 percent
  • Transport, 7.1 percent; and
  • Recreation and culture, 1.0 percent.

PH unemployment rate rose to 8.9% in September — PSA

Aileen Cerrudo   •   November 4, 2021

MANILA, Philippines—More Filipinos were out of work in September, according to the Philippine Statistics Authority (PSA).

Based on the latest report of PSA, unemployment rate in September rose to 8.9 percent, which translates to about 4.5 million individuals. This is higher compared to 8.1 percent or 3.88 million Filipinos recorded last August.

The labor force participation rate (LFPR) in September slightly dropped to 63.3 percent from 63.6 percent in August 2021.

“The biggest contributor to unemployment in September was the agriculture and forestry sector. That’s why the unemployment rate rose,”said national statistician Claire Dennis Mapa in an online briefing.

Mapa said bad weather and the end of the harvest season led to the unemployment rate for September.

Meanwhile, underemployed rate was estimated at 14.2 percent this September 2021 accounting for 6.18 million underemployed persons out of 43.59 million employed persons. According to the PSA, it is the second lowest reported this year following the 12.3 percent underemployment rate in May 2021. The same underemployment rate of 14.2 percent was reported in June 2021.

Socioeconomic Planning Secretary Karl Chua said better labor outcomes in October can be expected when the country sees the full impact of the implementation of granular lockdowns in NCR. 

“Overall, the economy has generated 1.1 million employment above the pre-pandemic level. This signals the Philippines’ continuing recovery. We look forward to the expansion of the alert level and granular lockdown system to the whole country to recover more jobs and livelihoods,” he said. AAC

 

 

Unemployed Filipinos rose to 3.88M in August — PSA

Aileen Cerrudo   •   September 30, 2021

MANILA, Philippines—The country’s unemployment rate in August 2021 was estimated at 8.1% , an increase from 6.9% reported in July.

The Philippine Statistics Authority (PSA) reported on Thursday that the total number of unemployed Filipinos in August stood at 3.88 million individuals 15 years old and over.

This is amid the implementation of stringent quarantine classifications due to the high number of reported coronavirus disease (COVID-19) cases.

In a joint statement of the administration’s economic managers, including Department of Finance (DOF) Secretary Carlos G. Dominguez III, Socioeconomic Planning Secretary Karl Kendrick T. Chua, and Budget officer-in-charge Tina Rose Marie L. Canda, said the result of the recent unemployment rate was expected given the restrictions prompted by the pandemic and the spread of the Delta variant.

Nevertheless, the economic managers said the result is an improvement, since the labor force participation increased to 63.6% from 59.8%. This is equivalent to 48.12 million Filipinos 15 years old and over.

Socioeconomic Planning Secretary Karl Kendrick Chua said the country is slowly recovering owing to the government’s risk management strategy. He said that majority of workers were allowed to operate and return to work while under heightened quarantine.

Tuloy po ang ating public transport. Ang mga pinagbawalan lang natin ay iyong mga nasa closed places, crowds at close contact areas. So iyan po ang dahilan kung bakit bumabalik ang trabaho at gumaganda ang ating underemployment rate (Public transport continues to operate. What is not allowed are gatherings in closed places, crowds, and close contact areas. That is the reason why workers have returned and our underemployment rate is improving),” he said during a virtual public briefing on Thursday. AAC (with reports from Janice Ingente)

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