Monday, October 21, 2019

Aug 07 18, 11:03 am

Asian robbed by fake cop in Dubai

A Gulf man claiming he is a policeman stopped an Asian worker near an industrial zone in Dubai, produced a fake police card and asked him to get in his car. Scared, the Asian quietly got in the car but instead of taking him to the station, the presumed cop drove to an...

17 human trafficking victims rescued in MCIA

At least 17 suspected victims of human trafficking were rescued at the Mactan-Cebu International Airport (MCIA). The Bureau of Immigration said the victims were intercepted before they could board their flights bound for Hong Kong and Macau en route to the United Arab...

PH inflation peaks to new over 5-year high in July

by | News

Aug. 07, 18 | 11:03 am

The Philippine Statistics Authority (PSA) on Tuesday, August 7, reported that the inflation rate in the Philippines has hit 5.7 percent in July 2018, recording a new record-high over the last 5 years.

The 5.7 percent inflation in July also breached the rate from last month which was at 5.2 percent and the inflation rate during the same period last year which only hit 2.4 percent.

“The uptrend was mainly due to the 7.1% annual rate recorded in food and non-alcoholic beverages index. Nine out of 11 commodity divisions registered higher annual upticks during the month,” the PSA noted in a statement.

Other sectors that reported price increase include alcoholic beverages and tobacco (21.5%), housing, water, electricity, gas and other fuels (5.6%), transportation (7.9%), and health (3.7%).

Food products such as meat (5.8%), fish (11.4%), vegetables (16%), and sugar and other confectioneries (7.4%) also reported increase in prices.

How will this affect OFWs?

Inflation rate is defined as the sustained increase in the prices of general and common goods and services in a country. While the high peso-dirham exchange remains high at P14.41, as of press time, it means nothing for OFW families if the continuous inflation in the country and uptick in prices would be taken into consideration.

Several lawmakers are already seeking ways to help OFW families with the rising prices of goods in the Philippines.

Earlier, ACTS-OFW Representative Aniceto Bertiz III called for banks to lower remittance charges from the average 10.57 percent transfer charge to 5 percent.

Bertiz said the move can help OFWs save extra money since the rising prices of goods in the country only negates the lower value of peso.

“Reducing the cost of bank remittance services to 5% would mean some $1.5 billion or P80.1 billion in cost-savings and extra money in the pockets of our migrant workers and their families every year,” Bertiz said.

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Asian robbed by fake cop in Dubai

Asian robbed by fake cop in Dubai

A Gulf man claiming he is a policeman stopped an Asian worker near an industrial zone in Dubai, produced a fake police card and asked him to get in his car. Scared, the Asian quietly got in the car but instead of taking him to the station, the presumed cop drove to an...

17 human trafficking victims rescued in MCIA

17 human trafficking victims rescued in MCIA

At least 17 suspected victims of human trafficking were rescued at the Mactan-Cebu International Airport (MCIA). The Bureau of Immigration said the victims were intercepted before they could board their flights bound for Hong Kong and Macau en route to the United Arab...

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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