PBBM welcomes easing of inflation in August

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00:00Government's earnest efforts to bring down prices of essential items of survival has paid off substantially.

00:06The latest inflation report shows a formidable drop in headline inflation as a result of a slowdown in the rise of the cost of rice, meat, and vegetables.

00:16Our Kenneth Paciente fills us in with the details.

00:21President Ferdinand R. Marcos Jr. celebrates the recorded decrease in inflation this August,

00:26which dropped to 3.3 percent from 4.4 percent in July.

00:31The president stressed that due to the tariff reduction, rice inflation dropped to 14.7 percent from the previous 20.9 percent,

00:39and meat inflation declined to 4.0 percent.

00:43Towards this end, the chief executive asserted that the government will further expand the Kadiwa ng Pangulo program

00:49to other parts of the country to ensure affordability of basic needs and essential items.

00:54It will also ensure a sufficient supply of pork following the rollout of the vaccination against ASF,

01:00which will also help stave off a price increase on pork.

01:04The chief executive also highlighted the government's efforts to lower gasoline prices.

01:08He said these are the steps taken by the administration so every Filipino can experience the change under the Bagong Pilipinas movement of the Marcos Jr. administration.

01:18However, the president assured the work will continue to ensure the progress and development of the country to raise the quality of life of each and every Filipino.

01:26Meanwhile, the Department of Agriculture is confident that rice prices will continue to slide in the coming months

01:31following the latest recorded slowdown in rice inflation by the PSA.

01:35The DA expects to achieve 9 percent or even lower rice inflation.

01:40In October, the impact of Executive Order No. 62, which reduces the tariff on imported rice, will even be more clear and felt.

01:48Single digit, maganda yan.

01:50Makita natin noong panahon ng after RTL, after a year,

01:55ang laki nang naging stability ng inflation because of rice.

01:59Nasa mga 2 to 4 percent lang.

02:03So hopefully we can reach that level ulit in the near future.

02:07Kasi yung rice, about 25 percent ng kabuang food inflation dahil sa bigas.

02:14Lalong bababa palalo yung bigas, lalong bababa yung food inflation,

02:19at malaki yung magiging epekto sa kabuang inflation numbers.

02:23Kenneth Paciente, from the National TV Network, for a new and better Philippines.

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