Day: May 1, 2025

Manila: Inflation likely continued to settle below 2 percent in April due to lower food prices, an economist has said. According to Philippines News Agency, Rizal Commercial Banking Corporation chief economist Michael Ricafort stated in a Viber message Thursday that inflation is projected to further decelerate to 1.6 percent in April from 1.8 percent last March. “The initial implementation of the maximum suggested retail price of imported rice on January 20, 2025, the declaration of a food security emergency on February 3, 2025, as well as world rough rice prices at the lowest in more than three years, could all

Cebu: The ‘Bente Pesos na Bigas Meron Na’ program is set to launch as a strategic response to the ongoing oversupply of rice in local markets, serving as a dual-purpose initiative to curb inflation and support local farmers, according to an official statement made on Thursday. According to Philippines News Agency, Department of Agriculture (DA) Spokesperson Assistant Secretary Arnel de Mesa highlighted the program’s objective to balance supply and demand issues ahead of its official launch in Cebu. De Mesa emphasized that the initiative is designed to benefit both ordinary Filipinos and the farmers themselves, by addressing the critical economic

Manila: The Criminal Investigation and Detection Group (CIDG) has arrested 237 suspects and confiscated PHP53.9 million worth of evidence during its ‘focused operations’ against criminality nationwide from April 21 to 25. According to Philippines News Agency, CIDG chief Maj. Gen. Nicolas Torre III stated that the arrests included eight Chinese nationals, 13 regional most wanted persons, 32 provincial-level most wanted fugitives, and a member of the Ocariza Criminal Group of Cebu. The operatives also seized 28 loose firearms and assorted ammunition as well as illegal products, including substandard cigarettes, unregistered beauty products, animal feeds, and other evidence, totaling PHP53.88 million.

Manila: As the country celebrates Labor Day, key members of the Philippine Senate called for decisive reforms to ensure fair wages, stronger protections, and inclusive opportunities across all sectors of the labor force. According to Philippines News Agency, Senate President Francis Escudero highlighted the significance of Labor Day as a moment to honor workers, whom he described as the backbone of the economy. Escudero pointed out that the country’s labor force, comprising over 50 million Filipinos, spans crucial sectors, including agriculture, construction, transportation, and manufacturing. Senator Loren Legarda stressed the need for economic growth to be reflected in the quality

Manila: For three consecutive months, fuel companies have implemented rollbacks on liquefied petroleum gas (LPG). In separate advisories, Petron, Regasco, and Solane slashed LPG prices by PHP1 per kilogram (kg). The rollbacks took effect at 12:01 a.m. on May 1, reducing the cost of a regular 11-kg household LPG cylinder by PHP11. According to Philippines News Agency, the price movement reflects the international contract price of LPG for May. Data from the Department of Energy indicated that the common prices of an 11-kg LPG tank stood at PHP1,085.