NEDA optimistic inflation to further slow down in coming months

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Transcript

00:00The Marcos government has done a remarkable job in taming inflation by keeping the key drivers in control.

00:06Among them, the prices of gas at the pump, energy or power, rent, and at the top, the prices of food.

00:13And this is government's game plan moving into the holiday season, remaining firm to bring down overall inflation.

00:19Our Kenneth Paciente has more.

00:24Following the recorded slowdown in the country's inflation rate in September at 1.9%,

00:29the National Economic and Development Authority is confident it will slow down even more in the coming months.

00:34According to NEDA Undersecretary Rosemary Edilion,

00:37the government is vigorously exerting efforts to achieve a 2% to 4% overall inflation rate.

00:42She mentioned the results of these efforts have been observed as the year-to-date inflation in the country from January to September is at 3.4%.

00:50She added the focus is on food security, which is a significant factor in the movement of inflation.

00:59The President of the Interagency Committee on Inflation and Market Outlook created this.

01:04We have a subcommittee on food and a subcommittee on non-food.

01:08What this does is to look at the trends here in the country and outside the country to anticipate.

01:16Because what we really need here is to anticipate the developments so that we can do something.

01:23Due to the slowdown in inflation, NEDA asserts the purchasing power of Filipinos will strengthen,

01:28especially in the approaching holiday season.

01:51Meanwhile, NEDA sees the recovery of tourism industry as the reason behind the drop in the country's unemployment rate,

01:57which now stands at 4%.

01:58However, they are still paying close attention to some challenges in the labor force,

02:02including underemployment and job mismatch.

02:05That's why they launched the Trabaho para sa Bayan plan,

02:08a 10-year roadmap that serves as a guide for stronger and more robust employment generation in the country.

02:14In fact, NEDA is touring the country to conduct consultations on the matter.

02:18Our objective here is for our labor market to be very dynamic and agile.

02:25Because what we see is that although our unemployment rate is declining,

02:30we can still see that underemployment is still high,

02:33and the quality of employment is one of the things that needs to be fixed.

02:38NEDA is also pushing to strengthen the country's labor force by improving workers' access to the internet

02:43through the Konektadong Pinoy Bill,

02:45which aims to upskill and retool Filipino workers with the help of the internet.

02:49Kenneth Paciente, from the National TV Network, for a new and better Philippines.

02:55For more UN videos visit www.un.org

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