Manila: The continued decrease in inflation is the result of economic reforms and measures to reduce food prices, particularly that of rice, undertaken by the administration of President Ferdinand R. Marcos Jr.
According to Philippines News Agency, 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. Speaker Ferdinand Martin Romualdez stated, 'Ang pagbaba ng inflation sa 1.4 percent ngayong Abril ay isang konkretong patunay na ang mga hakbang ng pamahalaan ay may tunay na epekto sa buhay ng mga ordinaryong Pilipino.' He emphasized that this decrease is evidence of government measures positively impacting the lives of ordinary Filipinos.
Romualdez further noted that the controlled prices of basic commodities like rice, vegetables, meat, electricity, and transport fares have made daily expenses more affordable, enhancing the ability of Filipino families to manage their incomes. He described the drop in inflation as an 'expected outcome,' attributing it to the lower prices of rice and other food items.
He credited President Ferdinand R. Marcos Jr.'s leadership for the positive economic results, highlighting initiatives like the Kadiwa ng Pangulo (KNP), which began in the second half of 2024, to provide cheaper rice to vulnerable sectors. Programs such as the P29 initiative launched in July and the Rice for All in August last year have contributed to this effort. Additionally, on May 1, the 'Benteng Bigas Mayroon (BBM) Na' program was introduced in Cebu, expanding access to affordable agricultural products.
Furthermore, President Marcos' decision to reduce rice import tariffs has been instrumental in curbing inflation. Romualdez acknowledged Congress' role in supporting these efforts through legislation, oversight, and addressing distribution bottlenecks, which helped prevent price manipulation and hoarding.
The PSA reported that the downtrend in April's overall inflation was driven by a slower increase in food and non-alcoholic beverage prices, which rose by 0.9 percent compared to 2.2 percent in the previous month. Food inflation specifically decreased to 0.7 percent from 2.3 percent in March. The PSA further noted significant price reductions in various rice types, with regular milled rice and well-milled rice prices declining from last year's levels.
