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- Updated:2024-10-22 11:48 Views:172
The Department of Agriculture sells rice at P29 per kilo at the Bureau of Animal and Industry’s Kadiwa in Visayas Avenue, Quezon City on Friday, July 19, 2024. (PNA)
MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday said “concrete steps” are already underway to ensure that the decline in inflation rate will be experienced by all Filipinos.
Marcos, who also chairs the National Economic and Development Authority (Neda) board, made the pronouncement after the Philippine Statistics Authority reported that the country’s inflation eased to 3.3 percent in August.
Article continues after this advertisementREAD: Philippine inflation eased to 3.3% in August
FEATURED STORIES BUSINESS National ID gives more Filipinos ‘face value BUSINESS BIZ BUZZ: Unwinding Gogoro … quietly BUSINESS Polvoron maker seeks P500 million capital for expansion“Patuloy ang trabaho. Ipagpapatuloy natin ang pag-usad upang matiyak na makakamtan ng bawat Pilipino ang mas komportableng buhay — sa pamamagitan ng dekalidad na trabaho at murang bilihin,” he noted.
(The work continues. We will continue to make progress to ensure that every Filipino will have a more comfortable life — through quality jobs and cheap goods.)
Article continues after this advertisementAmong these measures is the expansion of the Kadiwa centers which, he said, will help maintain the affordable price of commodities.
Article continues after this advertisementHe also announced that government will begin the controlled rollout of the African Swine Fever vaccine so that there will be enough supply and a price hike will be avoided.
Article continues after this advertisementFurthermore, measures to stabilize transportation and fuel prices will be implemented.
“These are concrete steps we’re taking to make sure that the Bagong Pilipinas we promised is felt where it matters most — at home,” he said.
Article continues after this advertisement(These are concrete steps we’re taking to make sure that the Bagong Pilipinas we promised is felt where it matters most — at home.)
According to Marcos, apart from the inflation, the reduction of rice tariffs decreased rice inflation from 20.9 to 14.7 percent.
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Meat inflation, on the other handbruno, was also brought down from 4.8 to 4 percent.
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