British Chamber: Upcoming trade mission seen helping ease inflation pressures
MANILA, Philippines — An upcoming virtual trade mission by British companies could help ease inflation on some key food items in the Philippines, the British Chamber of Commerce Philippines (BCCP).
In an interview with ANC Television, BCCP Executive Director and Trustee Chris Nelson said that while the trade mission’s primary objective is to forge a “long-term business partnership” between the United Kingdom and Philippines, the event could also help soften price pressures that both countries are experiencing.
It is an upcoming partnership with Kent Country Council on the food and beverage virtual trade mission on September 15 to 16, respectively.
The event will support British companies to access overseas markets such as the Philippines and help export their products to the country.
“We’re looking at bread, meat, healthy snack products and branded items that can find great market in the Philippines,” Nelson said.
Inflation remained painfully high in July at 6.4%, keeping the pressure on the Bangko Sentral ng Pilipinas to stay hawkish as rising prices squeeze Filipino households’ budgets.
Meanwhile, UK inflation jumped to 10.1% in July, its highest since February 1982.
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