Prices across reporting districts continued rising from early September to mid-October under the impact of higher tariffs, the U.S. Federal Reserve said in its Beige Book released on Wednesday.
The Beige Book, a survey on economic conditions based on information collected from its 12 regional reserve banks, is published eight times per year.
The survey showed that during this period, many districts have seen higher import costs and higher costs of services in insurance, health care, and technology solutions, which has led to the increased input costs at a faster pace.
Some manufacturers and retailing companies have already passed the higher import costs along to their customers.
Several reserve districts expect to see elevated uncertainty which will drag on economic activities further. Meanwhile, one district report pointed out that the prolonged government shutdown could pose downside risks to economic growth.
Higher tariffs continue driving up prices: Fed Beige Book
Though tens of billions of pesos spent on flood control projects in recent years in the Philippines, questions have been raised about the value of that investment as flooding from Typhoon Kalmaegi left at least 114 people dead and 127 missing, with more than 2.14 million people affected nationwide.
In Talisay City, Cebu Province, homes have been reduced to rubble, mud has clogged up streets and families are left picking through the wreckage of homes that have been swept away by floodwaters.
"I saw a banana being washed away and I grabbed it for breakfast. It's very hard because our food at home, like rice, also got washed away. We used to live here, but most of our houses have been swept away,”said Mary Jean Apog who has taken shelter in a makeshift tent built from storm debris.
Many residents in flood-affected areas have been left wondering whether money earmarked by the government for flood control projects has been spent wisely.
Between 2022 and 2025, more than 400 flood-protection projects worth over 26 billion pesos (about 441 million U.S. dollars) have been launched in Cebu, the second highest investment of all the nation's provinces.
Vince Dizon, secretary of the Department of Public Works and Highways (DPWH) visited Talisay City on Wednesday, where he said people should be held accountable for the poor state of the region's flood defenses.
"Poorly planned, poorly executed, and we don't know if there are anomalies here. That will be up to the ICI (Independent Commission on Infrastructure) to find. But definitely, someone should be held accountable here," he said.
According to the country's disaster management authority, more than 6,700 houses were damaged in the typhoon, and hospitals, schools, and other public facilities suffered extensive damage. Power and communications were disrupted in many towns, closing schools and businesses.
Authorities have declared a state of emergency in response to the disaster.
Flood control projects under question as Typhoon wreaks havoc in Philippines
