(July 07, 2020) – The Philippines’ year-on-year inflation quickened to 2.5 percent in June after the government relaxed coronavirus curbs, the government announced on Tuesday.
This halted the four-month deceleration for the country’s inflation, with May registering a six-month low of 2.1 percent.
The Philippine Statistics Authority (PSA) has noted the uptrend for June was primarily due to higher increments in transport, particularly for tricycle fares, from a 5.6 percent annual decrease in May to a 2.3 percent increase in June.
Mark-ups were also noted for alcoholic beverages and tobacco at 18.5 percent, as well as in utilities.
But inflation continued to slow down for food and non-alcoholic beverages, recreation and culture, education, restaurant and other services.
The headline figure was near the upper end of the central bank’s forecast range of 1.9% to 2.7% for the month, and faster than the median 2.2% estimate in a Reuters’ poll.
The Philippine economy contracted by 0.2 percent in the first quarter, the first in 22 years. Bangko Sentral ng Pilipinas Governor Benjamin Diokno said that the gross domestic product (GDP) could contract even further by 5.7 to 6.7 percent as restrictions continue to hamper businesses in the country.
The Philippine GDP could shrink by 1.9 percent this year, according to the World Bank.
Last month, the government decided to relax quarantine restrictions in the capital region and other areas to boost the economy.
But now, authorities have been floating the possibility of placing Metro Manila back to stricter curbs, as coronavirus cases continue to rise.
On Monday, the Philippines had the second-highest number of infections in the Southeast Asian region at 46,333, overtaking Singapore but next to Indonesia. (Katrina Elaine Alba/MM)
Our Privacy Commitment
TV5 Network Inc. values and respects your right to privacy. We are committed to safeguarding your personal data in compliance with Republic Act No. 10173 or the Data Privacy Act of 2012 and its Implementing Rules and Regulations.
Why do we collect your personal information (as applicable)?
We collect and maintain basic information about you as users of TV5 sites for the following purposes:
Where do we get your personal information?
There are several ways we collect your personal information.
Information that you personally provided.
Most of the personal information we have are those that you have provided us when you:
Information we collect during your engagement with us
We also collect information as you use our products and services, like:
Information we collect from other sources
We also collect your personal information through other activities such as our market research initiatives, when you visit and use our websites and mobile apps, and from our subsidiaries, affiliates, and third-party business partners to whom you have given consent to share your information to us.
When do we disclose personal information?
There are circumstances when we are required to share some of the information you have provided us. In these cases, we ensure that your personal information will be disclosed on a confidential manner, through secure channels that is in compliance with the Data Privacy Act and other privacy laws.
In some instances, we may be required to disclose your personal information to our agents, subsidiaries, affiliates, business partners and other third-party agencies and service providers as part of our regular business operations and for the provision of our programs and services. This means we might share your information with:
How we protect your personal information
We also put in effect the following safeguards:
TV5 will not collect, use, or disclose your personal information for any purpose other than those identified in this Commitment, your Service Agreement or our Terms of Service, and any other purpose that you may have given your consent for.
For greater clarity, unless you provide specific consent, we shall not:
What are your choices?
You are given certain rights in relation to your personal data under the Data Privacy Act. We would like to ensure that we have your consent to continue to collect, use, and disclose your personal information for the purposes that we have identified. We want you to know that you do have choices and can object or withdraw your consent and/or edit your consent preferences at any time.
If you wish to have access to your personal information in our records; or you think that such personal information we have of you is incomplete, not up-to-date, or otherwise inaccurate, you may get in touch with our Data Privacy Officer through the contact details provided below. In some instances, we may request for supporting documents or proof before we effect any requested changes to your personal information.
Data Protection Officer
TV5 Network Inc.
Reliance corner Sheridan Streets
What happens when there are changes in our Policy?
You will always be provided notice if these changes are significant and, if we are required by law, we will ensure to obtain your updated consent.