Manila: Malaca±ang on Friday welcomed the easing of inflation to 6.8 percent in May, describing it as a positive development for Filipino families as it helps ease pressure on household budgets.
According to Philippines News Agency, Palace Press Officer Claire Castro said the decline in inflation reflects early gains from the government's economic measures under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) initiative. Castro remarked, "Ang pagbaba ng inflation sa 6.8 percent nitong Mayo ay magandang balita para sa mga pamilyang Pilipino. Senyales ito na unti-unti nang nagbubunga ang mga hakbang ng pamahalaan sa ilalim ng UPLIFT strategy (The decrease in inflation to 6.8 percent this May is good news for Filipino families. It signals that the government's measures under the UPLIFT strategy are gradually taking effect)."
She emphasized, however, that sustained efforts are necessary to maintain the downward trend in inflation and ensure continued economic relief for Filipinos. The government remains cautious due to persistent external risks, including possible increases in global oil prices and the impact of El Ni±o conditions.
Castro stated that the administration will continue implementing measures aimed at making basic commodities affordable to Filipino households. "Hindi pa tayo kampante. May mga banta pa rin tulad ng posibleng pagtaas ng presyo ng langis at epekto ng El Ni±o (We are not yet complacent. There are still threats such as a possible increase in oil prices and the effects of El Ni±o)," she noted. "Kaya tuloy-tuloy ang ating mga hakbang upang mapanatiling abot-kaya ang mga bilihin, maprotektahan ang budget ng bawat pamilya, at makalikha ng mas maraming trabaho para sa mga Pilipino (That is why our efforts continue to keep the prices of basic goods affordable, protect every family's budget, and create more jobs for Filipinos)," Castro added.
The Philippine Statistics Authority reported that inflation slowed from 7.2 percent in April to 6.8 percent in May, bringing the year-to-date average inflation rate to 4.5 percent.
