News

Price hikes 'minimal,' poor to get P24.5-B cushion, gov't says

ABS-CBN News
Posted at Jan 10 10:20 AM

Higher taxes on fuel will result in a "minimal" increase in commodity prices and P24.5 billion will be given to the poor to help them cope, President Rodrigo Duterte's economic managers said Wednesday. Read more »

How fuel tax hike may affect grocery items

Infographic by Angela Salano, ABS-CBN News
Updated as of Jan 05 09:54 PM

Fuel prices will increase in January as the first package of tax reform takes effect, but the government said this should not push up prices of basic goods since transportation accounts for less than 5 percent of production costs.   Read more »

Trade chief renews warning vs profiteering with new taxes

ABS-CBN News
Updated as of Jan 04 06:00 PM

Prices of fuel and sugar-sweetened drinks should not increase due to new taxes in the next 2 to 3 weeks, until old inventory is used up, the government said, as it renewed its warning against profiteering. Read more »

DTI warns firms against 'profiteering' as TRAIN begins

ABS-CBN News
Updated as of Jan 03 09:54 PM

The government said Wednesday it will monitor the prices of groceries to ensure that manufacturers and establishments are not taking advantage of the implementation of tax reforms to jack up prices. Read more »

Wal-Mart, retailers hammered on Amazon-Whole Foods deal

Agence France-Presse
Posted at Jun 16 10:33 PM

NEW YORK - Leading retailers that sell groceries, including Wal-Mart Stores, fell sharply Friday, pressuring the broader market, following Amazon's announcement it will acquire Whole Foods Market. Read more »