'Very good holidays' ahead as inflation eases: NEDA | ABS-CBN
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'Very good holidays' ahead as inflation eases: NEDA
'Very good holidays' ahead as inflation eases: NEDA
People spend their time at Luneta Park in Manila on Christmas Day, December 25, 2023. Mark Demayo, ABS-CBN News
People spend their time at Luneta Park in Manila on Christmas Day, December 25, 2023. Mark Demayo, ABS-CBN NewsMANILA - The National Economic Development Authority believes that the Philippines is in for a very good holiday season amid easing inflation.
MANILA - The National Economic Development Authority believes that the Philippines is in for a very good holiday season amid easing inflation.
The country's headline inflation rate fell to 1.9 percent in September which was the lowest in over four years. It was even lower than the Bangko Sentral ng Pilipinas' forecast range of 2 percent to 2.8 percent.
The country's headline inflation rate fell to 1.9 percent in September which was the lowest in over four years. It was even lower than the Bangko Sentral ng Pilipinas' forecast range of 2 percent to 2.8 percent.
“We’re in for a very good holiday [season] kasi number one, dahil sa pababa na ang ating inflation,” NEDA undersecretary Rosemarie Edillon said in a televised briefing.
“We’re in for a very good holiday [season] kasi number one, dahil sa pababa na ang ating inflation,” NEDA undersecretary Rosemarie Edillon said in a televised briefing.
Edillion said that the slowdown in inflation is expected to boost consumer confidence, drive spending, and fuel business expansion, which in turn would mean more jobs and employment.
Edillion said that the slowdown in inflation is expected to boost consumer confidence, drive spending, and fuel business expansion, which in turn would mean more jobs and employment.
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"So maganda ang ating hinaharap. Magtuloy-tuloy sana (So the future is bright. I hope this continues),” Edillon said.
"So maganda ang ating hinaharap. Magtuloy-tuloy sana (So the future is bright. I hope this continues),” Edillon said.
Inflation has averaged 3.4 percent from January to September, well within the target of between 2 to 4 percent for 2024 set by economic managers. Edillon attributes this to the government’s efforts to bring down the price of food through the lowering of import tariffs for rice and to boost local production.
Inflation has averaged 3.4 percent from January to September, well within the target of between 2 to 4 percent for 2024 set by economic managers. Edillon attributes this to the government’s efforts to bring down the price of food through the lowering of import tariffs for rice and to boost local production.
Edillon also noted the increase in employment in the country brought about by the strengthening of the tourism industry as well as wholesale and retail trade.
Edillon also noted the increase in employment in the country brought about by the strengthening of the tourism industry as well as wholesale and retail trade.
“So mas naging kampante ang consumers to spend, at kapag increasing ang demand, tumataas din ang employment,” she said.
“So mas naging kampante ang consumers to spend, at kapag increasing ang demand, tumataas din ang employment,” she said.
(Consumers are now more willing to spend, and if demand is increasing, employment will also be increasing.)
(Consumers are now more willing to spend, and if demand is increasing, employment will also be increasing.)
The Philippines' job market improved in August as the unemployment rate fell and the underemployment rate also decreased as more women joined the workforce and got hired, the Philippine Statistics Authority said on Tuesday.
The Philippines' job market improved in August as the unemployment rate fell and the underemployment rate also decreased as more women joined the workforce and got hired, the Philippine Statistics Authority said on Tuesday.
The jobless rate fell to 4 percent in August from 4.7 percent in July and was also lower than the 4.4 percent clip registered in August last year. This meant that 2.07 million Filipino workers were unemployed, down from 2.38 million in July.
The jobless rate fell to 4 percent in August from 4.7 percent in July and was also lower than the 4.4 percent clip registered in August last year. This meant that 2.07 million Filipino workers were unemployed, down from 2.38 million in July.
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