My Google Page Rank

Gov't to remain vigilant on oil price volatility

PDFPrintE-mail

The government remains vigilant and mindful of the renewed volatility in the prices of petroleum products even as the country's headline inflation rate in February 2012 slowed down to 2.7 percent, according to the National Economic and Development Authority (NEDA).
"Petroleum products are considered as input costs to production and in transporting people and goods that ultimately affect headline inflation. Given the substantial impact of a very high oil price, reasonable and timely implementation of programs and projects are vital in maintaining stable consumer prices while ensuring continuous supply of goods and services," said Socioeconomic Planning Secretary Cayetano W. Paderanga Jr.

Paderanga made this statement following the National Statistics Office (NSO) report on the headline inflation in February 2012, which he noted was the country's lowest since October 2009.
Headline inflation rate is the percent change in the average prices of goods and services commonly purchased by households, as measured by the Consumer Price Index (CPI).

"For the first two months of 2012, the headline inflation averaged at 3.3 percent, which is within the Philippine Development Plan’s target of 3.0 to 5.0 percent," said Paderanga, who is also NEDA Director-General.
The Cabinet official noted that prices of all major commodity groups recorded slower price upticks last month, except health, which remained at 2.8 percent, and the very slight increase in the prices of recreation and culture.

Meanwhile, the communication index posted a 0.1 percent price reduction compared with the 0.2 percent decline in January 2012.
"Prices of food and alcoholic beverages, which comprise 39 percent of the CPI, increased at a slower rate. The Bureau of Agricultural Statistics (BAS) reported that prices were generally stable in Metro Manila from February 22 to March 01 on account of abundant supplies of fresh farm products at wholesale markets," said Paderanga.

Citing data from BAS, the NEDA chief said that continued flow of supplies from various domestic production sites resulted in significant year-on-year contractions in the average prices of red onion (-53.5 percent in February 2012 from -20.4 percent in January 2012), tomato (-36.5 percent from -22.6 percent), cabbage (-21.7 percent from -4.4 percent), and amargoso (-17.6 percent from -10.9 percent), as well as slower price increases of carrots (6.1 percent from 61.9 percent) and native pechay (23.4 percent from 76.6 percent).

"The easing of inflation was also recorded in neighboring Southeast Asian economies," Paderanga said.
He observed that Thailand and Indonesia's headline annual inflation in February 2012 slowed down to 3.4 and 3.6 percent, respectively, in February 2012, which is a decline of 0.03 percentage point (ppt) for Thailand and 0.09 ppt for Indonesia relative to January 2012.
In addition, Singapore and Malaysia's January 2012 inflation rates moderated to 4.8 percent and 2.7 percent, respectively, from 5.5 percent (Singapore) and 3.0 percent (Malaysia) in December 2011.

by: PNA/PIA9-ZBST




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

Four Kidnap victims rescued in Zamboanga del Norte

14 Mar 2018 Hits:475 Be the first to comment!

Four kidnap victims, who were held captive for nine days in Sirawai town, Zamboanga del Norte, have been escued, the military said. The Western Mindanao Command's spokesperson, Capt. Jo-Ann Petinglay, said as troops continue their rescue operations against lawless elements in Zamboanga Peninsula area, four kidnap victims were rescued in Sirawai, Zamboanga del Norte at 3:00 p.m. on Monday. Petinglay identified the rescued kidnap victims as Roger Jung-an; Jomar Maglangit; Jomar Mantangan; and Raymond Purisima who were left by their disoriented captors after soldiers and policemen had been relentlessly pursuing them since their abduction. Accordingly, the four are chainsaw operators and laborers, all residents of Barangay San Vicente, Sirawai, Zamboanga del Norte, who were abducted at the vicinity of Barangay Panabutan of Sirawai [...] Read more

Prev Next Page:

Beng urges women: Be brave, be strong

09 Mar 2018 Hits:412 Be the first to comment!

In celebration of women empowerment, Mayor Beng Climaco urged all women to be brave and strong amidst challenges and difficulties. Speaking to hundreds of women and men who joined the Marcha [...] Read more


CA denies Musa’s motion on IP seat in City Council

09 Mar 2018 Hits:445 Be the first to comment!

The Court of Appeals has denied Ismael Musa’s motion for reconsideration relative to his assertion as sectoral representative of the Indigenous People in the Sangguniang Panlungsod of Zamboanga City. In a [...] Read more


City welcomes Curuan-Sibuco road

07 Mar 2018 Hits:545 Be the first to comment!

Mayor Beng Climaco has welcomed the inclusion of the Curuan-Sibuco road project, one of the subprojects proposed under Improving Growth Corridors in Mindanao Road Sector Project (IGCMRSP) of the Department [...] Read more


Beng welcomes Litlit’s appointment as SP member

15 Feb 2018 Hits:652 Be the first to comment!

President Rodrigo Duterte has appointed San Roque Barangay Chairman Joselito “Litlit” Macrohom as member of the Sangguniang Panlungsod or City council replacing Charlie Mariano who stepped down from office last [...] Read more


City Registrar observes Civil Reg Month

15 Feb 2018 Hits:498 Be the first to comment!

The city, through the Office of the City Civil Registrar,is observing the Civil Registration Month this February with several activities highlighting the importance of civil registration. The month-long observance is punctuated [...] Read more


CHO stresses need for measles vaccination

14 Feb 2018 Hits:546 Be the first to comment!

The City Health Office (CHO) yesterday appealed to parents to submit their children for measles vaccination. This after a seven-month baby died last February 6, 2018 allegedly due to measles, five [...] Read more


MYEISHA JOLO DOWN M.LOZANO TAWI – TAWI

11 Jan 2018 Hits:625 Be the first to comment!

Este el Istoria del Jong Cariaga Mindanao Cup 2018 que ya hace na Golden Boys gym anoche. Ya sale Champion el Myeisha Jolo kay completo todo departamento del juego especialmente [...] Read more


BFP personnel to undergo fire suppression activities

10 Jan 2018 Hits:560 Be the first to comment!

Personnel of the Bureau of Fire Protection in Zamboanga City will undergo fire suppression trainings in the days to come in a bid to keep them abreast of the firefighting [...] Read more


RED CORALS UNITED Y RESTO DEL MUNDO FC –TABLA

10 Jan 2018 Hits:528 Be the first to comment!

Del Domingo pasao ya mira kita con el Resto Del Mundo FC contra Red Corals United donde ya sale Tabla el juego na Soccer Football. Amo quel el ultimo juego [...] Read more


TFZ gets 10 motorcycles from City Government

09 Jan 2018 Hits:571 Be the first to comment!

Task Force Zamboanga (TFZ) on Monday received from the local government 10 units of XRM motorcycles for security patrols in the outskirts of the city. Mayor Beng Climaco together with Councilor [...] Read more


Beng leads destruction of seized items

09 Jan 2018 Hits:561 Be the first to comment!

To show the Local Government’s firm commitment to public safety and security, Mayor Beng Climaco on Monday personally maneuvered a road roller and led the destruction of seized items such [...] Read more


Warring clans arm cache seized by gov't troops in Lanao del Sur

09 Jan 2018 Hits:581 Be the first to comment!

The military on Saturday seized a cached of high-powered firearms from warring clans, following a clearing operation in Lanao del Sur province. Capt. Jo-Ann Petinglay, spokesperson of the Western Mindanao Command, [...] Read more


BOALAN AGM TEAM OUTSMART FARRAH J

09 Jan 2018 Hits:517 Be the first to comment!

MINDANAO LEAGUE 2018 BY JONG CARIAGA: Boalan Agm  nuevo star athlete Kaiwa Sabdulla y si Neil Jumao-as ya dale mira kay puede sila gana con el maga mapuersa team como el [...] Read more


ANIMO JORTZ SURPRISED FARRAH J TEAM

08 Jan 2018 Hits:444 Be the first to comment!

JONG CARIAGA BASKETBALL MINDANAO CUP ‘18. Que el juego ta ase na golden boys gym ta principia 7:00 del noche. Fritz Vesagas amo el ya ase gana con el disuyu [...] Read more


BASKETBALL THRILLA IN ZAMBOANGA

07 Jan 2018 Hits:470 Be the first to comment!

JONG CARIAGA MINDANAO CUP Este el un torneo que debe kita mira kay el team del Myiesha Jolo tiene 5 ex PBA athleta y el losdemas puru mga star players de [...] Read more


Climaco reiterates appeal to Customs: Stop smuggling

06 Jan 2018 Hits:1063 Be the first to comment!

Mayor Beng Climaco has once again appealed to the Bureau of Customs to clean up Zamboanga City against smuggling, and it can only be done if the agency will deputize [...] Read more


Escapee recaptured in Isabela

06 Jan 2018 Hits:507 Be the first to comment!

An inmate who escaped last Tuesday night from his cell in Isbela City was recaptured by the Isabela City Police on Wednesday afternoon in one of the islands in Maluso, [...] Read more


Beng orders intensified drive vs illegal quarrying

06 Jan 2018 Hits:479 Be the first to comment!

Mayor Beng Climaco has ordered a renewed campaign against illegal quarrying activities as she cited the city’s firm advocacy on environmental protection. Mayor Climaco Thursday has directed City Police Director PSSupt. [...] Read more