Mga tulong na ibibigay sa mga naapektuhan ng oil spill sa Cavite, pag-uusapan na ngayong araw
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00:00They are also concerned about the impact of this on food security, especially since there is a threat of the La Nina phenomenon.
00:08The National Economic Development Authority has ordered the increase of the prices of goods and services in the country this July or this inflation.
00:18Sujin Kim Live has the latest on the news.
00:24Aljo, the increase of the prices of goods and services in the country or the inflation rate this July 2024 is 4.4%.
00:35Aljo, although this is the highest inflation rate this year, it is still lower than 4.7% last year.
00:45The main reason for the higher inflation this July is the faster rise in the prices of household goods, water, electricity, oil and other fuels.
00:55This has a 70.4% share in increasing the obvious inflation in the country.
01:01In particular, the lower price of electricity with a negative 5.4% inflation and the faster rise in the price of LPG.
01:12We expected that because the Meralco rates adjusted last July.
01:17So, we really have a big contribution to the inflation.
01:26The next reason for the faster rise in inflation is food and non-alcoholic beverages.
01:31In particular, the increase in the price of chicken, fruits and vegetables such as bananas and corn.
01:38In total, five major commodities are affected by the overall inflation.
01:42Rice, restaurants, house rentals, LPG and tomatoes.
01:47Undersecretary Claire Danismapa explained that the faster rise in the prices of vegetables and tomatoes may be the effect of the recent typhoons.
01:57The weather has an impact on agricultural commodities.
02:07Normally, in our historical data, after the typhoon, the price of vegetables has increased.
02:16It has been reported that some foods, including rice, have a lower inflation.
02:21The primary reason for the lower price of rice, based on the inflation outlook of the Central Bank of the Philippines,
02:28is due to the lower import tariffs under the EO62.
02:32In the coming months,
02:35we may have a base effect that will slow down the rise in inflation this August.
02:40In addition to that, sugar, fish and other seafood,
02:45in particular, galunggong and oils and fats, in particular, oil.
02:51Aljo, the National Economic and Development Authority, or NEDA, has also issued a statement.
02:56They assure that the government will continue to implement interventions
03:03to protect the most vulnerable sectors
03:06so that food security can be strengthened in the face of the low and high inflation this July.
03:12Aljo.
03:13Sujin, you mentioned the low-inflation phenomenon.
03:16What are the precautions to ensure food security?
03:22Yes, Aljo.
03:23The DA assures that they are ready.
03:25They also assure the availability of a quick response fund, cash assistance and seed and buffer stock.
03:31The Department of Agriculture also urges declogging activities in farm drainage systems
03:37and the construction of post-harvest facilities and water impounding projects.
03:42Aljo.
03:43Aside from food inflation, Sujin, power and electricity are also affected.
03:50What are the precautions for this?
03:54Aljo, to help our farmers,
03:57the DA will provide P510 million fuel subsidy to our crop, livestock and poultry farmers.
04:05Aljo, it is expected that 160,000 farmers will benefit from P3,000 fuel assistance from August to September.
04:14Aljo.
04:15Thank you very much, Sujin Kim.