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Oil Shock to Bring Inflation Above 4% - BusinessWorld Online
The bill aims to reduce inflation expected to exceed 4% this year by allowing tax suspension on fuel from March to September, potentially easing consumer costs.
3 Articles
3 Articles
House OKs Marcos Jr. special power on fuel excise tax
President Marcos has come closer to wielding special powers in cushioning the impact of soaring oil prices, with the House of Representatives’ approval yesterday on second reading of a measure authorizing him to suspend or reduce the excise tax on fuel.
Oil shock to bring inflation above 4% - BusinessWorld Online
By Kenneth Christiane L. Basilio, Reporter THE IRAN war could trim 0.2-0.3% from the Philippines’ gross domestic product (GDP) growth this year, as the oil shock could drive inflation to above 4% this year, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan said on Tuesday, At the same time, the House Ways and Means Committee passed a proposal authorizing President Ferdinand R. Marcos, Jr. to suspend excise …
The price of oil could rise even further, threatening a return to inflation. For central banks, this is currently happening, and the economy is facing a new interest rate shock.
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