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Oct. inflation at 14-year high Driven by fast price hikes in food, beverages; Nov. rate may be even higher—PSA
By Julito G. Rada, Vito Barcelo and Vince Lopez
NFLATION in October shot up to an almost 14-year high of 7.7 percent from 6.9 percent in September, driven by faster increases in the prices of food and nonalcoholic beverages, the Philippine Statistics Authority (PSA) said Friday.
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National Statistician and Civil Registrar General Dennis Mapa said in an online briefing that the inflation rate in
October was the fastest since the 7.8 percent posted in December 2008 during the global financial crisis. Inflation, which is the rate of increase in prices over a given period of time, was also significantly faster this month than the 4 percent posted in October 2021. Mapa said the inflation rate for food was 9.4 percent in October, accounting for an 18 percent share in
overall inflation. The October rate brings the average inflation for the first 10 months to 5.4 percent, well over the target range of 2 percent to 4 percent set by the government. Mapa said more price increases were likely. "Inflation may still accelerate this month [November]... There is a substantial probability of an increase in Novem-
ber 2022," Mapa said, noting the recent increase in the price of liquefied petroleum gas. "There was a push in food prices and the recent typhoons would not help," Mapa said, referring to a series of destructive typhoons that did significant damage to agriculture. Michael Ricafort, chief economist of Next page
Value of peso declines further to P0.85 per P1 By Othel V. Campos, Alena Mae Flores and Vito Barcelo THE purchasing power of the Philippine peso declined further in October as inflation shot to an almost 14-year high and as the local currency weakened against the US dollar. Philippine Statistics Authority (PSA) chief Dennis Mapa said the value of one peso in 2018 slipped to 85 centavos in October, down from 86 centavos in July. Next page
VOL. XXXVI • NO. 262• 3 SECTIONS 12 PAGES • P20 SATURDAY SATURDAY,, NOVEMBER 5, 2022 • www.manilastandard.net • mst.daydesk@gmail.com
BEACONS OF HOPE. Giant parol (ornamental lanterns) from Pampanga dot the stretch of Ayala Avenue in Makati City to officially welcome the season in the country’s central business district. The ceremonial lighting was spearheaded by Jaime Zobel de Ayala, Jr, Bea Zobel de Ayala, Patricia Zobel de Ayala, Mariana Zobel de Ayala, Makati Mayor Abigail Binay and Vice Mayor Monique Lagdameo. Danny Pata
DOJ to file murder raps vs. 10 more in Lapid slay By Rey E. Requejo and Macon Ramos-Araneta Additional murder complaints are poised over at least 10 new personalities involved in the killings of radio commentator Percival “Percy Lapid”
Mabasa and alleged middleman Crisanto “Jun Villamor” Palana by Monday, Justice Secretary Jesus Crispin Remulla said yesterday. Remulla earlier said the Department of Justice could file the additional charges by Saturday or Monday but said Friday that the Phil-
ippine National Police and the National Bureau of Investigation are still discussing the cases. “We’re playing it by ear, we’re trying to close everything as early as we can but there are 2 to 3 people that we still want to talk to just to be thorough about it,” he said.
Remulla did not confirm if these persons are government officials but said they are “very high in the chain” in the Lapid case. He said it would be up to the NBI and the PNP to disclose additional information. Lapid’s brother, Roy Mabasa, claimed Next page
PBBM to raise South China Sea issue in Asean
OFW deployment to Saudi resumes Nov. 7—Sec. Ople
By Vince Lopez
FILIPINOS who want to work in the Kingdom of Saudi Arabia (KSA) may troop to the Philippine Overseas Labor Offices (POLO) in Riyadh, Jeddah, and Al-Khobar, which will resume accepting job offers by November 7 after the government lifted the worker deployment ban there in September. “We will not hastily lift the Saudi deployment ban without a clear and strong foundation for the protection of our workers,” Department of Migrant Workers (DMW) Secretary Susan Ople said Friday in a hybrid media briefing.
PRESIDENT Ferdinand Marcos Jr. will attend the Association of Southeast Asian Nations Leaders’ Summit in Cambodia next week before proceeding to Thailand the week after for the Asia-Pacific Economic Cooperation Leaders’ Week. Mr. Marcos will raise the South China Sea issue as well as post-pandemic economic recovery and transformation in his Asean meetings in Phnom Penh, Foreign Affairs Assistant Secretary Next page
CLOSER TIES. President Ferdinand Marcos Jr. receives Dr. Mori Masafumi, Special Advisor to the Prime Minister of Japan, Thursday. Mr. Marcos said he “looks forward to strengthening the ties between our countries and working together on climate change, the West Philippines Sea, agriculture and food security, as well as infrastructure development.”
Teachers told: Don't be friendly with students on social media SCHOOL teachers don’t have to be friends on social media with their students unless the tutor and pupil are already relatives, the Department of Education ordered recently. Through Department Order No. 49 series of 2022 released on Wednesday, DepEd told its officials and employees to exercise caution in using Facebook and other online platforms and refrain from "following social media with learners" unless they are family members or are related. The order was issued to promote professionalism in the delivery of basic education programs and services. It stressed the provisions of the current Code of Conduct and Ethical Standards for Public Officialsand Employees and reminded department workers to always adhere to "acceptable norms of conduct and relations in DepEd." Next page
DSWD chief belies Trump all but declares presidential bid lack of food aid given in Novoleta
CAMPAIGN BLITZ.
Former US President Donald Trump arrives during a campaign event at Sioux Gateway Airport on November 3, 2022 in Iowa where he all but declared another presidential bid. AFP
PRESIDENT Joe Biden and Donald Trump launched multi-state campaign blitzes Thursday (Friday Manila time) ahead of midterm elections that could end up hobbling the Democrat's next two years, while setting the stage for a Trump comeback attempt. Trump stopped short of announcing his candidacy during an 80-minute speech in Sioux City, Iowa on Thursday. But only just. "This is the year we're going to take back the House," he told a cheering crowd. "We're going to take back the Senate.
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We're going to take back America and then in 2024, most importantly, we are going to take back our magnificent White House," he said. "I will very, very, very probably do it again." Trump—who remains the Republican party's de facto leader and possible 2024 presidential candidate despite losing the 2020 election and being under investigation for stashing top secret presidential documents at his Florida golf resort and for other reasons —is on the offensive. Next page
By Rio N. Araja SECRETARY Erwin Tulfo of the Department of Social Welfare and Development (DSWD) on Friday denied the claim of Noveleta, Cavite Mayor Dino Chua of incompetence in the release and distribution of government assistance due to stringent requirements being asked from victims of severe tropical storm Paeng. Interviewed over radio dzBB, Tulfo said that investigation showed that the Next page