CCCI: Sluggish peso takes toll on key sectors

CEBU, Philippines — The Cebu Chamber of Commerce and Industry (CCCI) warned that Philippine peso’s slide toward the P60-per-dollar level is beginning to strain key sectors, raising costs for import-dependent industries while offering limited offsets from stronger dollar inflows.

In a statement, the chamber said the currency’s recent weakness is already feeding through to higher prices for fuel, electricity and transport, particularly affecting businesses in manufacturing, retail and construction that rely heavily on imported inputs.

“The effects are being felt across the economy,” the group said, noting that cost increases are gradually being passed on to consumers.

The peso’s depreciation has provided some relief to export-oriented sectors, including business process outsourcing firms and households receiving remittances from overseas Filipino workers, as dollar earnings translate into higher peso income and support domestic spending.

Still, the chamber cautioned that further weakness could test the economy’s resilience. At levels beyond P62 to the dollar, cost pressures may broaden and raise the risk of faster inflation and softer demand, it said.

The group, led by president Regan Rex King, called for coordinated action across sectors, urging the government to maintain prudent macroeconomic management, address energy-related cost pressures and extend targeted support to vulnerable industries.

Businesses, it said, should strengthen efficiency, reassess cost structures and adopt risk management tools such as currency hedging.

Consumers, meanwhile, may need to remain cautious with spending as price adjustments continue in the near term. Despite the headwinds, the chamber said Cebu’s business community remains resilient, emphasizing that early and coordinated responses can help cushion the impact of global volatility.

“The situation is not yet a crisis, but it is a signal to act early, adapt quickly and work together to protect the economy,” it said.