Oil Price Surge Worsens Philippine Economic Woes, Fuels Unemployment Fears
The surge in global oil prices due to Middle East tensions is severely impacting the Philippine economy. Rising gasoline and diesel costs are straining household budgets, exacerbating the slowdown and unemployment issues already evident in the economy, including job losses in manufacturing.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- PSEi Falls Below 6,100 on Inflation Fears Fueled by Oil Prices and Weak Peso
Philippine stocks retreated below the 6,100 level, closing at 6,007.78 points, as rising global oil prices and a weakening peso intensified inflation concerns, dampening investor sentiment. Higher bond yields also contributed to the market's decline.
- Philippine Stocks Tumble as Peso Weakens, Inflation Fears Mount
The Philippine Stock Exchange index (PSEi) plunged to near the 6,000-point level, as the peso continued its decline and concerns over inflationary pressures intensified, dampening investor sentiment.
- Philippines Sees Faster Q4 Growth Amid Easing Weather Woes, Inflation
The Philippine economy is projected to accelerate in the fourth quarter, surpassing third-quarter performance, according to the Department of Economy, Planning and Development (DEPDev). The outlook is bolstered by the expected easing of weather disturbances and a potential boost to consumption from moderating inflation.
- Philippines September Inflation Seen at 6.5% Amid Oil Prices, Weak Peso
Philippines' September inflation is projected to accelerate to 6.5%, driven by elevated oil prices, a weak peso, and weather-related supply pressures. This strengthens the case for a potential 25-basis-point rate hike by the central bank in October.