President Ferdinand R. Marcos Jr. is directing concerned government agencies to focus on food, fuel, and electricity as inflation accelerated to 7.2 percent in September, Malacañang said Wednesday.
Palace Press Officer Claire Castro said Marcos met with Executive Secretary Ralph Recto to discuss inflation and measures to contain further price increases.
“Sa ngayon po, ang pinagtutuunan talaga ng Pangulo ay ang food, fuel, and electricity (For now, the President is really focusing on food, fuel, and electricity),” Castro said during a press briefing.
She said Marcos also stressed the need to keep the country’s fuel supply stable, warning that a disruption could force businesses to scale back or halt operations, which could further hurt the economy.
“Kabilinbilinan po ng Pangulo na hindi po dapat mawalan supply ang Pilipinas ng fuel (The President instructed that the Philippines should not run out of fuel supply),” she said.
The government is also continuing measures to cushion consumers from higher prices, including the removal of the 12 percent value-added tax on the allowable system loss charge in electricity bills.
Castro said the government is likewise working to ensure adequate pork supply ahead of the holiday season and continuing assistance programs under UPLIFT, including the Walang Gutom Program, TUPAD, and the Free Rice Program.
Fuel subsidies for public utility vehicle drivers and operators will also continue amid the impact of the Middle East crisis, while the government is expanding Kadiwa outlets to improve access to affordable food.
“So patuloy pa rin po ang fuel subsidy para sa mga PUV drivers, katulad ng sinabi natin, pati po iyong expansion ng Kadiwa outlets ay patuloy pa rin po (The fuel subsidy for PUV drivers continues, as does the expansion of Kadiwa outlets),” Castro said.
The Philippine Statistics Authority reported that headline inflation jumped to 7.2 percent in September from 6.1 percent in August, driven largely by faster increases in food, housing and utilities, and transport prices.
Food and non-alcoholic beverages inflation accelerated to 6.7 percent from 4.6 percent in August, while housing, water, electricity, gas, and other fuels rose 8.4 percent. Transport inflation reached 14.6 percent.
Castro said the administration is also preparing for the economic impact of the Middle East conflict, natural disasters, and El Niño.
“Hindi natin ito ginusto, hindi natin ginusto na magpatuloy at lumala ang nangyayari sa Middle East (We did not want this. We did not want the situation in the Middle East to continue and worsen),” she said.
She said Marcos would receive an update on additional measures following his meeting with Recto, particularly those that could help ease the impact of rising prices. (PNA)
