NEDA, tiniyak na on-track ang bansa sa galaw ng presyo ng mga pangunahing bilihin

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00:00The price of goods remained stable despite the increase in inflation in NEDA.

00:05A congressman who is a Red Flag candidate did not see the alleged inflation.

00:10Joshua Garcia with the report.

00:15The National Economic and Development Authority assured that the price of primary goods in the country remains stable.

00:20This is despite the alleged increase in inflation for the month of October this year.

00:25According to NEDA, despite the increase of 2.3% in October from 1.9% in September,

00:32it is still considered stable if we base it on the government's target of 2.0% to 4.0% inflation rate.

00:38The Philippine Statistics Authority or PSA explained that the main cause of the increase in inflation

00:44is the increase in the price of food and non-alcoholic beverages, especially rice.

00:48According to National Statistician Dr. Dennis Mapa,

00:51this is also followed by calamities and it can still be experienced until the next few weeks, now in November.

00:57So there are prices that are rising.

01:00And of course the expectation is that this month of November,

01:05maybe the first two weeks, we will still see the price of vegetables rise.

01:13So we are tracking that.

01:15Normally we see that after the typhoon and then it will normalize again.

01:20According to the PSA, despite the increase in prices of some foods such as vegetables,

01:25seafood, chicken and bananas, the price of rice and corn is still high.

01:30Our expectation is that it will peak.

01:36This is just a blip.

01:39And we expect that it will go down again.

01:41Inflation rate and of course the price level per kilo in the coming months, November and December.

01:50While the housing, water, electricity and other fuel products sectors are also heavily affected by inflation.

01:56Congressman Joey Salceda is adamant that he does not see the red flag data that was shown in October on the inflation rate of the country.

02:03Instead, it is clear that the economy has recovered from the crises it has experienced,

02:08particularly in the past years of 2022 and 2023.

02:11Salceda also added that the policies of President Ferdinand R. Marcos Jr. have helped a lot

02:16when it comes to reducing tariffs, especially for consumers who are not affected by local farmers.

02:22The government's efforts and actions have also continued to address challenges such as trials,

02:27especially in bad times, which also have a contribution to increasing the inflation rate in the country.

02:31According to the Central Bank of the Philippines, the inflation rate of 2.3% for the month of October

02:37is still within their forecast range of 2.0% to 2.8%.

02:42Meanwhile, their Monetary Board continues to implement measures to ensure price stability

02:48and to maintain the economic recovery.

02:50Joshua Garcia for Pambansang TV in Bagong, Philippines.

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