Philippine inflation rises to 2.3% in October
October’s headline inflation accelerated due to higher prices in food, nonalcoholic beverages and transport, according to PSA. Preliminary data from the agency showed that the consumer price index (CPI) increased by 2.3 percent year-on-year in October, up from 1.9 percent in September.

Philippines batting for chapter on MSMEs in free trade deal with European Union
The Philippines is proposing a chapter on micro, small and medium enterprises (MSMEs) in its free trade agreement (FTA) with the European Union (EU), the Philippine Exporters Confederation, Inc. (Philexport) said.

Gov’t agencies singled out for ‘excellent’ EoDB compliance
The Anti-Red Tape Authority (ARTA) said it conferred “excellent” ratings on 64 agencies for their compliance with the Ease of Doing Business (EoDB) Law, while noting the large number of compliance laggards subject to review of their processes.

Philippine economic team to British investors: Choose the Philippines, and we will deliver
The Philippine government’s economic team has urged British investors to choose the Philippines, and the country will deliver on bringing significant returns and opportunities for British businesses to grow and prosper in its expanding domestic market.

Moody’s: Philippines’ third quarter GDP growth slower at 5.7%, October inflation up at 2.3%
Moody’s Analytics forecasts the country’s economy grew slower in the third quarter by 5.7 percent versus 6.3 percent in the previous quarter.

Climate change may cut Philippines GDP by 18% – ADB
Climate change under a high-end greenhouse gas emissions scenario may lead to an 18-percent reduction in the Philippines’ gross domestic product (GDP) by 2070, according to the Asian Development Bank (ADB).

Marcos signs 15 new laws during Congress recess
President Marcos signed 15 new laws during the congressional recess, driving forward key reforms in agriculture, education, defense, and judiciary, Speaker Ferdinand Martin G. Romualdez said on Monday.

London to support Philippines AI, climate finance goals
Manila has secured support from London in boosting the country’s artificial intelligence (AI) and climate financing. On the sidelines of the Philippine Economic Briefing in London, Finance Secretary Ralph Recto met with Lord Mayor of London Alderman Michael Mainelli to discuss the Philippines’ goals in AI and climate finance.

Neda must approve all natl infra master plans
All national infrastructure master plans must now be approved by the National Economic and Development Authority (Neda) for implementation, President Marcos has ordered.

Congress expected to ratify budget bill by mid-Dec.
Congress will likely ratify the proposed 2025 General Appropriations Bill before its break in mid-December, a House of Representatives leader said on Sunday.

Stakeholders back DOE on RE deals review 
Renewable energy (RE) firms said the Department of Energy (DOE) is on the right track in weeding out service contracts that are way behind the committed project timelines.

‘Philippines set to become top performer in Asean’
The Philippines will soon emerge as the top economic performer in the Association of Southeast Asian Nations (ASEAN), thanks to reforms that have strengthened the country’s global trade position and growth potential, according to HSBC Global Research.

Govt to push ratooning, use of inbred rice seeds
The government will encourage planters to use inbred seeds for their third crop or tap other production methods under a rice industry roadmap which aims to significantly raise the output of the staple.

FAO expands data portal on global agrifood systems
Policymakers, researchers and the public have a new resource to gauge the scale and importance of agrifood systems in providing employment around the world.

BoC estimates foregone revenue due to rice tariff cut at P16 billion
The Bureau of Customs (BoC) said revenue foregone in the second half due to the reduced rice tariffs is estimated at P16.34 billion.

GOCC subsidies decline by 14% in September
Subsidies provided to government-owned and -controlled corporations (GOCCs) dropped by an annual 14% in September, according to the Bureau of the Treasury (BTr). The latest data from the Treasury showed that budgetary support to GOCCs declined by 14.33% to P18.22 billion in September from P21.26 billion in the same month a year ago.

Green energy auction pricing to involve two-stage evaluation
The Energy Regulatory Commission (ERC) said the draft pricing rules for the upcoming green energy auction (GEA) round involve two sets of evaluations to assess the “reasonableness and prudency” of each price offer.

Airports ready for peak travel, CAAP says
WITH the anticipated surge in air travelers during Undas, the Department of Transportation (DOTr) has assured that the Communications, Navigation and Surveillance/Air Traffic Management (CNS/ATM) system is fully operational and it has contingency plans in place to minimize potential flight disruptions during this peak travel period.

Marcos signs laws creating new court branches across PH
President Ferdinand Marcos Jr. has signed into law 11 measures creating additional court branches across the country. Copies of the new laws were released by Malacañang on Sunday.

UK investors pitched on PHL gov’t bonds
The Department of Finance (DoF) said it pitched British investors to increase their exposure to Philippine bonds ahead of the Philippines’ return to the JP Morgan bond index.

Inflation forecast to have hit 2.3%
Higher fuel and food prices coupled with base effects could have pushed inflation up in October, analysts said. The median forecast in a Manila Times poll of economists was 2.3 percent, higher than the September result of 1.9 percent but within the Bangko Sentral ng Pilipinas' (BSP) 2.0- to 2.8-percent estimate for the month. The BSP, which has a 2.0- to 4.0-percent target for the year, last month lowered its risk-adjusted forecast for 2024 to 3.1 percent from 3.3 percent.

Gov't tallying crop insurance payouts
Crop insurance payments to farmers affected by Severe Tropical Storm Kristine will cost the government at least P666.5 million, the Department of Agriculture (DA) said. An initial report from state-owned Philippine Crop Insurance Corp. (PCIC) showed that 86,066 farmers from 10 regions had their crops damaged or wiped out by the storm

Meralco expects 6% rise in energy sales volume
Manila Electric Co. (Meralco) expects to end the year with energy sales volume increasing by 6%, exceeding last year’s growth, a company executive said.

Weak private consumption may have slowed Q3 growth
The Philippine economy may have slowed in the third quarter of the year due to tepid private consumption, according to ANZ Research. In its Asia Macro Weekly report, ANZ Research said the country’s GDP may have slowed to 5.7 percent in the July to September 2024 period.

DoE still focused on BNPP rehab but ‘aware’ of data center plan
The Department of Energy (DoE) said its focus remains on reviving the monthballed Bataan Nuclear Power Plant (BNPP), adding though that is studying a proposal from Bataan province to convert it to a data center.

NIA to complete Davao irrigation projects by yearend
The National Irrigation Administration (NIA) is expected to finish P2.5-billion worth of irrigation projects in the Davao Region this year. NIA said two of these projects would expand irrigated farmlands in the region by 2,000 hectares.

Harris presidency more beneficial to PHL economy — analysts
A Kamala Harris presidency would be more beneficial to the Philippine economy, analysts said, noting the potential impact on monetary policy, trade and other economic indicators. In general, the US elections can impact the predictability of the interest rate environment, with the US Federal Reserve potentially continuing its rate-cutting cycle.

Manufacturing’s PMI slows to 52.9 in October
Supply-side challenges such as material shortages and longer delivery times have led to slower Purchasing Manager’s Index (PMI) in October for the country’s manufacturing sector.

ERC modifies decision for Meralco to forgo 5th regulatory reset
The Energy Regulatory Commission (ERC) has “modified” an earlier decision which supposedly allowed the Manila Electric Company (Meralco) to forgo the fifth regulatory reset (5thRP) of its distribution rate, covering the period 2022-2026.

Palay output seen plunging on El Niño, storms’ impact
The Department of Agriculture (DA) said the country’s palay production could plunge by the end of the year due to the gravity of damage inflicted on plantations by El Niño and typhoons.

Private consumption weak; Q3 growth seen slow
The growth of the Philippine economy may have slowed in the third quarter of 2024 due to a slack in private consumption despite the easing of monetary policy, according to Moody’s Analytics.

After Nov. 5: US, PHL can boost economic ties–study
Ahead of the change in the leadership in the United States, Center for Strategic and International Studies (CSIS), a US-based think tank has laid out its recommendations for the governments of both the US and the Philippines in order to strengthen the economic ties between the two nations.

PHL diplomats, foreign service staff get allowance hikes
After a decade, allowances for Filipino diplomats and foreign service personnel have been adjusted to cope with rising costs abroad.

Motorcycle sales up 6% to over 1.2 million at end-September
More motorcycles were added to Philippine roads as sales swelled to over 1.2 million units as of end-September this year, the latest Federation of Asian Motorcycle Industries (FAMI) showed.

CAAP lauded for successful hosting of international civil aviation conference
The International Civil Aviation Organization (ICAO) has recognized the Civil Aviation Authority of the Philippines (CAAP) for successful hosting of the five-day 59th Conference of Directors General of Civil Aviation in Cebu.

Japan firms, ALI eye Market! Market! project
The master plan hatched by the Bases Conversion and Development Authority (BCDA) for its single biggest available property in central Bonifacio Global City—a 10-hectare area valued at around P100 billion that includes the Ayala Market! Market! mall as well as the site of a future Metro Manila subway station—has attracted the interest of Japanese investors.

MMDA hosts first Road to Zero Waste Summit on Nov. 5-6
The Metropolitan Manila Development Authority (MMDA) will host the Road to Zero Waste Summit. This is the first and largest event focused on sustainable waste management and the promotion of a circular economy, at Unilab Bayanihan Center in Pasig City on Nov. 5 and 6.