The Philippine gov’t calibrated interventions needed to bring down food prices

Published 2021년 10월 5일

Tridge summary

The Philippines saw a slight decrease in inflation rate in September 2021, reaching 4.8%, which is within the expected range by the Bangko Sentral ng Pilipinas. This decrease was largely due to government policies aimed at reducing food prices, as seen in the slowdown of rice, fish, and meat inflation. The government has implemented Executive Orders to increase pork supply and reduce tariffs on pork, leading to stabilization of pork prices. Additionally, the Department of Agriculture has issued a Certificate of Necessity to import up to 60,000 metric tons of small pelagic fish to address the expected supply gap during the closing fishing season. The government plans to monitor the situation closely and adjust import permissions as necessary to ensure food availability and affordability during the pandemic.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

MANILA – The inflation rate slightly decelerated in September 2021, aided by the government’s policies to ease food prices, the National Economic and Development Authority said Tuesday. Based on the report of the Philippine Statistics Authority (PSA), the headline inflation rate slowed down to 4.8 percent in September 2021 from 4.9 percent in August 2021. This is at the lower end of the Bangko Sentral ng Pilipinas’ forecast range of 4.8 percent to 5.6 percent for last month. Food inflation decreased to 6.5 percent in September from 6.9 percent in August due to slower inflation rates in rice, fish, and meat. Rice inflation recorded zero growth following the issuance of Executive Order No. 135. Likewise, fish inflation decelerated to 10.2 percent from 12.4 percent. Meanwhile, meat inflation decreased to 15.6 percent from 16.4 percent, as pork inflation declined to 36.4 percent from 39 percent. Moreover, month-on-month meat inflation continued to decline at -1.6 percent, suggesting ...

Source: Pna