Manila: Agriculture Secretary Francisco Tiu Laurel Jr. on Wednesday highlighted the government’s continued efforts to tame inflation in the Philippines. Tiu Laurel made the statement after the country’s headline inflation settled at 1.7 percent in October, maintaining its September level and lower than the 2.3 percent recorded in the same month last year.

According to Philippines News Agency, Tiu Laurel stated that the government is closely monitoring the supply and price movements of key commodities in local markets, following President Ferdinand R. Marcos Jr.’s directive to ensure food security and affordability for Filipino consumers. ‘President Marcos’ instructions are clear-keep food affordable and supply stable,’ Tiu Laurel said.

In particular, food inflation further decelerated to 0.3 percent, primarily driven by slower inflation in vegetables at 16.6 percent, alongside softer prices for meat and dairy products and sharper annual declines in both rice and corn prices. Besides close market prices monitoring, the Department of Agriculture (DA) also allowed the importation of some commodities to ensure a stable supply and prevent spiking prices.

‘We will import when necessary to stabilize the market, especially when bad weather damages crops,’ Tiu Laurel said. Earlier, the DA allowed the importation of onions, carrots, fish, and seafood to sustain a sufficient supply in preparation for the upcoming holiday season.