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S&P Global Ratings said the Philippines is experiencing stagflation, with second-quarter GDP growth at 2.3% and October inflation accelerating to 7.8%. It attributed weak growth partly to reduced public spending and higher fuel and food costs, and warned that prolonged El Niño could further damage agricultural yields in the Philippines and major rice-producing countries.
Potentially lower rice yields could tighten regional supply and support rice prices, while high food and fuel costs are already squeezing household purchasing power. The outlook depends on whether El Niño persists.
philstar.comKeisha Ta-AsanNov 6, 2026After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
