Palace says effective government response to inflationary pressures one of reasons for lower PH inflation

PTVPhilippines

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00:00The Philippine Statistic Authority, or PSA, recorded on Wednesday the country's inflation rate eased to 2.1% for this month,

00:08marking a 0.8% decline from 2.9% in January.

00:14The Palace attributes this decline to the effective response of the current administration to anti-inflationary pressures.

00:21PTV's Kenneth Paciente has the details.

00:25Effective response of the current administration to inflationary pressures.

00:31This is one of the reasons seen by the Palace for the recorded slowdown in the inflation rate this February.

00:36During the Malacanang Press Briefing, the Palace welcomed the decline in the inflation rate last month,

00:41which was recorded at 2.1% from the previous 2.9% in January.

00:46This marks the biggest drop in the inflation rate since September of last year.

00:51A significant factor in this decline are the measures implemented by the Marcos, Jr. Administration.

01:21The Palace also stressed the recorded 2.5% average inflation rate remains within the government's target range of 2 to 4%.

01:52In connection with this, the National Economic and Development Authority ensures the continued implementation of measures

01:58to further slow down the country's inflation.

02:01This includes ensuring food security amid the threat of typhoons and other challenges in the livestock industry,

02:06such as African swine fever.

02:09According to NEDA Secretary Arsenio Balisacan, the government will implement the La Nina Action Plan

02:14to restore agricultural productivity in typhoon and flood-prone areas.

02:18He also noted that fuel assistance for Filipino farmers will continue.

02:22Balisacan assured the government will not be complacent in addressing the challenges brought about by inflation

02:27to improve the lives of every Filipino.

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