Palace hails 0.9% inflation: ‘Magic’ amid global uncertainties

The July 2025 #inflation rate slowed to 0.9% year-on-year, down from 1.4% in June and within the 0.5 to 1.3% forecast of the Bangko Sentral ng Pilipinas. Philippine Statistics Authority data showed that rice inflation drove the annual slowdown in the food index after it registered a 15.9% decline from a 14.3% drop in June. (PNA photo by Joan Bondoc)

By Darryl John Esguerra, Philippine News Agency

NEW DELHI – Malacañang welcomed the reported 0.9 percent inflation in July, the lowest in six years, describing the development as “magic” amid global economic uncertainties.

Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro made the statement Tuesday in a briefing with the Philippine media delegation in India, where President Ferdinand R. Marcos Jr. is currently on a five-day state visit.

“Maganda pong ulat ‘yan (That’s a welcome development),” Castro told reporters.

She cited various global challenges — such as the conflict in the Middle East, the ongoing war in Ukraine, and tariff concerns in the United States — that could have pushed inflation higher.

Despite these challenges, she said the Philippines managed to keep price increases at bay.

“Parang nagkaroon ng magic… mahirap po talaga sa panahong ito (As if there’s magic involved. It’s a really difficult time),” she said.

The reported inflation dip, according to Castro, could be attributed to lower rice and vegetable prices.

“Kapag wala pa mga external mga conditions or circumstances na makaka-apekto dito, maaari magtuloy-tuloy po ang magandang balita na ‘yan (Save for any external conditions or circumstances that could affect our growth, that good news would continue),” she said.