Philippine officials are thinking of extending the lower import tariffs on rice, corn, and pig past 2023 in response to the country’s continuously high inflation rates and supply-side difficulties. The existing reduced taxes, which will end this year, were implemented in 2021 to reduce inflationary pressure. However, officials are considering keeping the levies in place to mitigate inflationary pressures due …

Inflation in the Philippines was at 4.7% last month, compared to the 5.4% recorded in June, the Philippine Statistics Authority (PSA) reported in a briefing on Friday. The figure is also within the 4.1% to 4.9% range the Bangko Sentral ng Pilipinas forecasted for the month. July’s Inflation The Slowest Since March 2022 The Southeast Asian country has been recording …