Manila: The government has ramped up efforts to soften the impact of the prolonged Middle East conflict and ease the burden of rising inflation on vulnerable sectors, the Department of Economy, Planning, and Development (DEPDev) said.
According to Philippines News Agency, DEPDev made the assurance after the Philippine Statistics Authority (PSA) reported that inflation, or the rate of increase in the prices of goods and services, accelerated to 7.2 percent in April from 4.1 percent in March. This increase is attributed to the faster annual rise in food prices and non-alcoholic beverages.
In a briefing, National Statistician Dennis Mapa stated that the latest data brought the year-to-date inflation rate to 3.9 percent. Food inflation increased to 6.1 percent from 2.7 percent, with rice inflation rising to 13.7 percent. There was also a notable increase in inflation for fish, which rose to 9.4 percent from 6.6 percent, and vegetables, which increased to 10.4 percent from 7 percent.
Non-food inflation similarly rose to 8.2 percent in April from 4.9 percent, driven by a sharp rise in operating costs of private transport, which surged to 65.8 percent from 31.4 percent. Inflation in electricity, gas, and other fuels also climbed to 16.9 percent from 7.5 percent in March.
To cushion the impact of the Middle East conflict, the Marcos Jr. administration implemented the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), a comprehensive government response framework. DEPDev Secretary Arsenio Balisacan emphasized the government's focus on targeted interventions to temper price pressures on food, energy, and transport while maintaining domestic supply stability.
In line with UPLIFT, the Department of Energy (DOE) is actively seeking alternative energy sources and developing local capacity to ensure a stable fuel supply. As of April 24, 2.91 billion liters of fuel supply have been secured, with 1.305 billion liters scheduled for delivery, ensuring 54 days of inventory.
Targeted support is also being provided to vulnerable sectors. By April 24, 1.11 million drivers received financial assistance, while 366,009 fuel subsidy recipients and 2.36 million commuters were given 20 percent fare discounts as of April 27.
DEPDev mentioned that financial assistance to farmers and fisherfolk is being extended through dedicated programs. These include the Department of Agriculture's suspension of loan repayments for up to one year under the Survival and Recovery Program of the Agricultural Credit Policy Council and the piloting of a lower-cost fertilization protocol to reduce reliance on urea, a key input in rice production.
Additionally, 787 Kadiwa ng Pangulo sites and price support outlets have been established to connect consumers directly to farmers and producers for lower-priced rice and other essential food products. The recently launched UPLIFT microsite provides weekly updated information on the program's implementation and can be accessed at https://uplift.gov.ph/.
Balisacan reaffirmed the government's commitment to a whole-of-government approach in addressing the impact of the Middle East crisis, prioritizing stable fuel supply, manageable prices, and protection for all sectors amid ongoing challenges.
