Malacañang welcomed the continued decline in the country’s inflation rate, citing it as a direct result of government efforts to stabilize food prices and protect consumers from global economic shocks.
In a press briefing held at The Park Hotel in New Delhi on Tuesday, Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro said that the Marcos administration has kept inflation under control despite the many challenges globally—conflicts in the Middle East and Europe, U.S. tariffs, and market volatility.
“Magandang balita po ito at parang nagkaroon ng magic dahil mahirap po talaga sa panahon po ngayon na ang dami-dami pong sirkumstansya na maaaring makaapekto sa pag-presyo ng mga produkto,” Castro said on the sidelines of President Ferdinand R. Marcos’ five-day State Visit to India.
“Katulad po ng Israel conflict with Iraq. Mayroon pa po ‘yung Russia conflict din at marami pang iba. Pati po yung US tariff, maaaring makaapekto ‘yan,” Castro noted.
Castro pointed out that the easing of inflation is primarily attributed to the drop in the prices of rice and other basic food items, which President Marcos himself prioritized through interventions such as price monitoring and increased local supply.
The Philippine Statistics Authority (PSA) said inflation eased to 0.9 percent in July from 1.4 percent in June, a significant improvement that economic observers say is reflective of improved supply chain interventions and targeted government support for both producers and consumers.
The PSA said the 0.9 percent inflation rate was the lowest level since October 2019.
Castro also emphasized the importance of continued collaboration between national agencies, local government units, and the private sector to maintain the trend.
“So magtulungan po tayo. ‘Yan ang nais po ng Pangulo. Lahat po tayo magtulungan para po mas gumanda pa rin po ang ekonomiya ng ating bansa,” Castro said. | PND
