Business and Economy
PBBM hails slower August inflation as victory for every Filipino
By Darryl John Esguerra, Philippine News Agency
Likewise, the President credited steps in ensuring stable oil prices.
(PCO file photo)
MANILA – President Ferdinand R. Marcos Jr. on Thursday welcomed the slowdown in inflation rate to 3.3 percent in August, citing the government’s steps in bringing down food prices.
“Ngayong araw, ipinagdiriwang natin ang isang tagumpay para sa bawat Pilipino. Bumagsak ang inflation sa 3.3 percent ngayong Agosto mula sa 4.4 percent noong Hulyo (Today, we celebrate a victory for every Filipino. Inflation fell to 3.3 percent this August from 4.4 percent in July),” Marcos said in a statement posted on social media.
The President cited the government’s move to reduce rice tariffs, which he said brought rice inflation down from 20.9 percent to 14.7 percent, and meat inflation also eased from 4.
8 percent to 4 percent.
He also vowed to expand the Kadiwa ng Pangulo program in the Visayas and Mindanao, as well as the rollout of the African swine fever (ASF) vaccine to ensure ample pork supply and further bring down the prices of commodities.
Likewise, the President credited steps in ensuring stable oil prices.
“These are concrete steps we’re taking to make sure that the Bagong Pilipinas (New Philippines) we promised is felt where it matters most – at home,” he said.
The Chief Executive pledged to continue working and take the necessary steps to uplift the lives of every Filipino.
