ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Philippine consumer companies hit by rising inflation and weak peso

Wage and interest rate hikes expected to still pressure companies in the second half

Higher prices are hitting consumer in the Philippines.    © Reuters

MANILA -- Stubbornly high inflation and a weak local currency dealt a blow to Philippine consumer companies' margins in the first half, forcing some to cut costs and raise prices to protect earnings, with little reprieve expected in the near term.

Jollibee Foods, the nation's largest and most popular fast-food group, reported a 16.1% increase in net income to 4.05 billion pesos ($75.6 million), partly helped by tax relief. But it had to raise prices at its restaurant chains, including at its flagship Jollibee, Greenwich Pizza, and its Burger King franchise, to offset inflationary pressure.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more