Manila: Inflation further slowed to 6.1 percent in August this year from 6.2 percent in July amid slower price increases in food and non-alcoholic beverages, the Philippine Statistics Authority (PSA) said in a briefing on Friday. National Statistician Dennis Mapa noted that the latest data brought the year-to-date average to 5.2 percent. Inflation of food and non-alcoholic beverages slowed to 4.6 percent from 5.2 percent in July.
According to Philippines News Agency, food inflation eased to 4.6 percent in August from 5.3 percent the previous month due to the decline in the prices of vegetables, tubers, plantains, cooking bananas, and pulses, as well as a slower increase in fish prices. Mapa highlighted that the inflation of housing, water, electricity, gas, and other fuels, which slowed to 7.9 percent from 8.2 percent, also contributed to the downtrend in inflation.
Despite the slowdown, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan assured that the government will continue to implement programs to lower prices. "While the overall figure remained stable, the moderation in key drivers such as food inflation gives us confidence that we are moving in the right direction," Balisacan said in a separate statement.
To manage price pressures and support vulnerable sectors, the government continues to implement targeted interventions under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT). These include expanding access to affordable food through over 700 KADIWA outlets nationwide, distributing more than 26,000 metric tons of free rice to over 2.5 million Filipinos through the Bawat Bayan Makikinabang program, and providing fuel assistance to vulnerable transport groups.
To help cushion the impact of the oil crisis in the transport sector, the government expanded the fuel subsidy for PUV drivers and operators to PHP12 per liter. DEPDev said this will continue through September, subject to monthly assessment. The Department of Agriculture (DA) also continues to update its El Ni±o response plan, prioritizing irrigation support, input assistance, inventory monitoring, and timely market interventions to help stabilize food prices.
"Our priority is to strengthen the foundations of long-term price stability through improved food security, more efficient logistics, and targeted support for vulnerable sectors," Balisacan stated. "These are not short-term fixes; they are investments in a more resilient economy capable of withstanding future disruptions," he added.
