PH inflation rate decelerates to 3.3% in August

PTVPhilippines

PH inflation rate decelerates to 3.3% in August  For more news, visit:  ►https://www.ptvnews.ph/  Subscribe to our DailyMotion Channel: ►http://www.dailymotion.com/peoples-television-incorporated  Subscribe to our YouTube channel: ►http://www.youtube.com/ptvphilippines  Like our Facebook pages: ►PTV: http://facebook.com/PTVph  ►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas  Follow us on Twitter:  ►http://twitter.com/PTVph  Follow us on Instagram: ►https://www.instagram.com/ptvph  Watch our livestream on:  ►http://ptvnews.ph/livestream/ ►https://www.dailymotion.com/PTVPhilippines  Watch our News Programs, every Mondays to Fridays  Rise and Shine Pilipinas - 6:00 - 8:00 am Bagong Pilipinas Ngayon - 12:00 - 1:00 pm Sentro Balita - 1:00 pm - 2:00 pm Ulat Bayan - 6:00 pm - 7:00 pm PTV News Tonight -  9:30 pm - 10:30 pm  Saturday & Sunday: ►Ulat Bayan Weekend - 6:15 pm - 7:00 pm

Transcript

00:00The easing of inflation in August has been welcomed by the chief executive and several government agencies,

00:06indicating government interventions have worked to stabilize food prices.

00:10Floyd Brens has the full details.

00:15Headline inflation slowed down to 3.3% in August, the lowest since January of this year.

00:21Still, the Department of Finance says this is within the government's target range of 3 to 4% for the year.

00:28Finance Secretary Ralph G. Recta says it demonstrates the interventions to stabilize food prices,

00:35saying the government will maintain the downward momentum by staying vigilant on risks.

00:40The Banco Central ng Pilipinas is confident inflation will stay within the target band of 2 to 4% for the rest of the year

00:47following the temporary uptick of CERB in July.

00:50According to the Philippine Statistics Authority,

00:52the downtrend in inflation was primarily brought about the slower annual increment of food and non-alcoholic beverages at 3.9% from 6.4% in July.

01:02Specifically, food inflation eased to 4.2% from 6.7%.

01:07National Statistician and PSA Undersecretary Claire Dennis Mapa said

01:12the reduced rice tariffs contributed to the decline in rice inflation,

01:16which went down to 14.7% last month from 20.9% in July.

01:22Overall, three commodities have contributed to inflation.

01:25National Economic and Development Authority Orneda's secretary said

01:29the continued easing of inflation and stable prices would significantly benefit households and businesses

01:36and will promote increased consumer spending and stimulate economic activity.

01:40Meanwhile, House Waste Means Committee Chair and ALBAI representative Joyce Alceda said

01:46The August 2024 inflation rate favors consumers especially with the Christmas season fast approaching.

01:52Floyd Bruns, from the National TV Network, for a new and better Philippines.

Category

Transcript

Recommended