The June figure brought the average inflation rate in the first six months at 4.3 percent, or beyond the Bangko Sentral’s target range of 2 percent to 4 percent for 2018. The higher rate indicates that certain assumptions made by government forecasters earlier were not met.

Data provided by the Philippine Statistics Authority showed that the higher annual price increases of 6.1 percent in the heavily-weighted food and non-alcoholic beverages index largely caused the inflation in June to spike. The food index by itself climbed 5.8 percent in June, with higher annual mark-ups observed in the indices of rice, 4.7 percent; corn, 14.1 percent; meat, 5 percent; and vegetables, 8.6 percent.

The country’s rice supply was understandably short until last month when the National Food Authority finally imported the commodity. The prices of commercial rice in the market rose to as much as P45 to P50 per kilo with the absence of NFA rice in the market since March of last year. NFA administrator Jason Aquino earlier conceded that the agency failed to comply with the 15-day buffer stock policy for almost one year.

The increase in petroleum prices, along with the weak peso, may have also contributed to the steeper increase in the prices of other food items like vegetables and meat. Rising transportation cost inflates the cost of food products, especially those coming from the provinces.

The surprise inflation rate in June, meanwhile, will prompt the Bangko Sentral to take a more aggressive approach in raising interest rates to curb rising prices. Governor Nestor Espenilla Jr. described the higher-than-expected June inflation as a “setback.”

The government should also identify the artificial bottlenecks affecting the supply of goods and services. Unscrupulous traders and speculators may have already taken advantage of the high inflation rate by hoarding goods.  / posted July 06, 2018 at 12:50 am by Manila Standard

7.1. D. Tribune –     <Concept News Central – Cars for cops

7.2. M. Bulletin –AFP underspending, undelivered PNP equipment

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7.3.  The Manila Standard –Faster inflation rate   <>

7.4.  The Manila Times –  SUSPECTED PUBLIC OFFICIALS INVOLVED IN DRUG TRADE

 7.5.  The Philippine Daily Inquirer –  Spiral of violence   <> 7.6   The Philippine Star – ‘No impunity’

     

7. Samsamin ang mga baril –  Pilipino Star Ngayon   – Sinusuwelduhan ng Malaki!

                

8.1.  For The Straits Times   –   A second wind for Seoul’s Southern Policy

Ravi Velloor
Associate Editor
A 35-year veteran of the trade, he has reported from across Asia, and the US. Formerly Foreign Editor and South Asia Bureau Chief of ST, he is as much at ease with global business and macro-economic issues as he is with diplomacy and international politics. A Jefferson Fellow, Ravi previously worked with Bloomberg News, Time Warner magazines and Agence France-Presse.

 

9.1.  Regime’s best-laid plans still subject to folly –
VEERA PRATEEPCHAIKUL FORMER EDITOR
– The Bangkok Post

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10.1   Keeping a balanced view on access to high places – Viet Nam News by Thu Trang

llustration by Trịnh Lập

# Unanimous –  Hello Supreme Leader Xi…  Where are my BILLION$ ???

                                                                                                                      DU30 is a Maggot • 13 hours ago