FOOD CRUNCH TO FUEL INFLATION, BSP WARNS

THE Bangko Sentral ng Pilipinas

(BSP) warned that various food supply problems, including potatoes and fish, could exacerbate the country’s accelerating inflation.

I n its February economic outlook, the BSP listed the various key commodities seeing elevated prices because of supply constraints that will “further add to the upside risks to inflation.”

T hese are: livestock, poultry, fish, onions and even potatoes.

T his, as Finance Secretary Benjamin E. Diokno said other Executive departments and even local government units must be more “aggressive” and focused so the government can temper the country’s accelerating inflation.

Diokno pointed out that monetary authorities such as the BSP have already done their part in tempering the country’s inflation, adding that resolving higher costs of goods and services is an “all-of- government campaign.”

“ In the fight against inflation, monetary policy is not the only game in town. The main sources of inflation remain on the supply side, which should be the responsibility of fiscal authorities,” he said in a statement at the weekend. “ While evidence of secondround effects is increasing, the previous direct actions by government agencies have yet to work through its way,” he added.

High prices till end-year

THE high prices of the commodities it listed may persist until the end of the year if the national government will not address the constraints, the BSP said.

See “Food,” A2

15 HOTELS, SPAS IN METRO MANILA WIN FORBES’ STAR AWARDS

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

FIFTEEN hotel and spa properties in Metro Manila landed on the prestigious Forbes Travel Guide (FTG) Star Award Winners list for 2023.

S even of those properties received the highest rating at Five Stars: the Marco Polo Ortigas Manila, Nüwa Manila and Nüwa Spa at the City of Dreams Manila, Okada Manila and its Retreat Spa, the Peninsula Manila, and the Sky Tower at Solaire Resort and Casino. It was the first time for The Retreat Spa at the Okada Manila to win a Star Award.

T hose that received a Four-Star rating were: Fairmont Makati, Hyatt Regency Manila and Nobu Hotel at the City of Dreams, Raffles Makati, Shangri-La at The Fort, and Sofitel Philippine Plaza.

Two properties, Conrad Manila and the now shuttered Makati Shangri-La, received a “Recommended” rating.

T he 65th annual list features 360 Five-Star, 585 Four-Star and 433 Recommended hotels; 79 Five-Star, 113 Four-Star and 67

Recommended restaurants; and 119 Five-Star and 195 Four-Star spas worldwide. FTG reviewers inspect properties around the world anonymously.

“ Travel is in an incredible position for continued growth, as people prioritize authentic, in-person experiences,” said Amanda Frasier, FTG’s President of Ratings in a news statement. “The hotels, ocean cruises, restaurants and spas on our 2023 Star Rating list demonstrate an impressive commitment to creating memorable environments that nurture connection, joy and

DTI: Access to BNPCs assured amid global spikes

THE Department of Trade and Industry (DTI) assured consumers at the weekend they will have access to affordable basic necessities and prime commodities (BNPCs) amid the global inflation.

“ sense of place as we experience the world to its fullest.”

We, in DTI, would like to ensure that consumers will have access to affordable basic necessities and prime commodities (BNPCs) amidst the global inflation,” Trade Secretary Alfredo E. Pascual said in a statement on Saturday.

T he Trade chief said they are mobilizing their monitoring teams from the Consumer Protection Group (CPG) to “regularly” conduct price monitoring on these BNPCs. Pascual underscored the agency’s monitoring mandate, which he said is designed to prevent profiteering and hoarding.

Occupancy, ADR

MEANWHILE , domestic tourism is pushing local hotel occupancy levels higher than pre-pandemic levels. “For the month of January, hotels [were] hitting already 80-percent occupancy; pre-pandemic it was 60 percent to 70 percent. So it’s far better now,” said said Loleth So, president of the Hotel Sales and Marketing Association (HSMA). “Domestic tourism [is] very strong right now.

See “15 Hotels,” A2

T he Trade chief said the remarks after the Trade department’s consumer protection arm, led by DTI Assistant Secretary Ann Claire C. Cabochan and Fair Trade Enforcement Bureau (FTEB) Officer-in-Charge Assistant Director Joseph Manuel P. Pamittan, conducted the price monitoring and enforcement operations as they inspected retail firms within Manila following the release of the Suggested Retail Price (SRP) bulletin on February 8.

Through the tight price watch, the monitoring teams affirmed the compliance of the two supermarkets inspected in Manila with the latest SRP bulletin as well as the requirement of appropriate price tags on products,” DTI said in a statement.