Defining the News
The lower inflation rate in October is very much predictable. Rice prices as well as those of other food items cooled off during the month after climbing in September, thanks partly to a good weather.
As I’ve written in my last week’s column, the yellowing rice fields along major expressways in the north were part of the telltale signs that the nation’s rice stocks had been boosted. The rice inflation shrank to 13.2 percent in October from 17.9 percent in September.says rice inflation slowed down following the onset of peak harvest and import arrivals.
The inflation rate may have already peaked this year, given the ample rice harvest during the wet season. The Department of Agriculture has already assured sufficient rice supply in early 2024 following the harvesting of palay, or unhusked rice, in the current wet season. Rice imports that arrived in the third quarter of 2023 will also help the country’s stock.said the country’s national rice stock inventory was at a comfortable level of 77 days of supply in October.
Latest statistics show that Meralco is fulfilling its objectives, justifying it credit rating upgrade from S&P Global Ratings. Consolidated core net income in the nine months ending September 2023 jumped 53 percent to P30 billion from P19.6 billion during the same period last year. Meralco made significant improvements in its service quality metrics. The System Average Interruption Frequency Index , which measures how often customers experience sustained power interruptions, improved five percent to 1.004 times from the 1.053 times reported in the same period the previous year.
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