Manila: The Department of Agriculture's (DA) efforts to rein in the price of rice and other food items helped further ease inflation in April, bringing it to its lowest level before the Covid-19 pandemic. The Philippine Statistics Authority (PSA) reported Tuesday that headline inflation eased to 1.4 percent in April, the slowest since the 1.2 percent rate recorded in November 2019.

According to Philippines News Agency, food inflation also decelerated significantly, dropping to 0.7 percent from 2.3 percent in March and 6.3 percent in April 2023. "We are encouraged that our initiatives to enhance supply and stabilize agricultural commodity prices are easing the financial burden on millions of Filipino consumers, especially low-income families," Agriculture Secretary Francisco Tiu Laurel Jr. said in a news release on Tuesday.

Inflation for the bottom 30 percent of income households slipped to a record low of 0.1 percent in April. Tiu Laurel, however, noted that challenges remain. "There are still supply and value chain issues the DA is actively addressing, particularly in the pork sector, which could further stabilize food prices moving forward," he said.

On May 1, the DA launched its PHP20-per-kilo rice program in Cebu City, with a broader rollout planned after the elections. The initiative, along with other DA-led options, has contributed to lower rice prices. After declining by 7.7 percent in March, rice prices dropped another 10.9 percent year-on-year in April.

The PSA also reported slower inflation for vegetables, tubers, plantains, cooking bananas, meat, fruits, fish, and other seafood, signaling a broader easing of food costs.