Japan Credit Rating Agency affirms PH’s ‘A’ rating with stable outlook, says DOF J

firms the country’s strong macroeconomic fundamentals, including its faster-than-anticipated gross domestic product growth of 7.6 percent in 2022, the DOF said in a statement.

An A credit rating with a stable outlook means the country has better access

- to global bond markets at lower interest rates. It also signifies investor confidence that can lead to more foreign investments.

Aside from Japan Credit Rating Agency, other debt watchers Moody’s Investor Services, S&P Global and Fitch Ratings have earlier affirmed investment grade rating for the Philippines with some minor movements in outlook.

The DOF said other signals that prove strong macroeconomic fundamentals include the decline in its debt-to-GDP ratio to 60.9

The DICT said this represents almost 19 percent of the 168.98 million SIMs nationwide.

Smart Communications reported a total of 16,477,229 SIMs registered, which is 24.23 percent of the company’s 67,995,734 subscribers.

Globe Telecom Inc recorded 13,132,454 registered or 14.94 percent of its 87,873,936 subscribers.

The DICT said it urges the public to register early to avoid user traffic as the deadline approaches on April 26, 2023. The Department reminded subscribers to register only through the official links of telcos:

• SMART - smart.com. ph/simreg or simreg. smart.com.ph

• GLOBE - new.globe. com.ph/simreg

• DITO - https://digital.dito.ph/pto/download/app.

Prices of some bread increase as ingredients get more expensive

Bread has not been spared from inflation as bakeries have begun to implement the new suggested retail price of some bread products Monday.

The Filipino Chinese Bakery Association, Inc. (FCBAI) said some of its members have begun to raise prices of loaf bread known as ‘Pinoy Tasty’ as well as pandesal.

The Department of Trade and Industry has announced last week that the SRP of a 450g ‘Pinoy Tasty’ is now P40.50 up from P38.50, while 10 pieces of pandesal now cost P25, up from P23.50.

But the price hikes are not enough, according to the bakers’ group. It has been asking for P4 increase since last year, but only got about P2 hike. The group said it has no choice, but to accept it and it will try to appeal again.

“Hindi pa rin kakasya doon sa price increase of the flour, the sugar, the shortening,” said FCBAI former president Henry Ah.

The Department of Trade and Industry (DTI) 11 has continued to intensify the implementation of the Consumer Act of the Philippines, while warning business establishments and online sellers to strictly observe the price tag provisions.

FCBAI Executive Vice President Christopher Ah added, “Lahat tumaas, walang hindi tumaas. Everything-- sugar, flour, fats. Tumaas lahat. Gatas, ngayon itlog. Tumaas talaga.”

He asserted that price increases have affected their business. “Raw materials increased around 25 to 30 percent. Ngayon etong increase natin is very very minimal. Kinain na talaga margins natin.”

The group said only ‘Pinoy Tasty’ and pandesal are covered by DTI’s SRP, so they had no choice but to hike prices of other types of bread and pastries especially as the prices of many ingredients, as well as LPG, have risen.

Bakeries try to recover this cost by raising the prices of other items like Christmas cakes and Valentine’s cakes, the group said.

The group said it is appealing to the public’s un-

The Republic Act 7394, or the Consumer Act of the Philippines, is aimed at protecting consumers against unscrupulous practices. Further, it is designed to promote their welfare and to continuously empower them.

The law requires all consumer products to have an appropriate price tag, label, or marking that is prom- inently displayed. Sellers have to ensure that the price of each item can be determined easily. However, the agency explained that for products that are too small or whose nature makes it impractical to place a price tag on them individually, a price list should be placed at the closest location where the products are displayed. The price list must state the retail price of the same may suffice.

DTI 11 Regional Director Maria Belenda Q. Ambi shared that the agency, under the Department Administrative Order No. 09 Series of 2022, allows the use of shelf pricing in combination with modern technology for automatic product identification. Nonetheless, these must be under the conditions that the establishment uses itemized receipts or cash register tapes that reflect the description, size, quantity, and individual prices of the consumer products. Another option is the installation of at least one price verification counter or comparable system.

“The rules on individual tagging or the requirements on pricing list or poster, as applicable, will apply to establishments that cannot comply with the aforementioned requirement,” the local trade chief said.

The DTI also advises consumers to pay attention to product prices when purchasing. In cases where there are price discrepancies between the tags and registered prices, the buyer must pay whichever is lower.

“For instance, the price