Inflation rate ngayong Marso, bumagal sa 1.8% mula sa 2.1% noong Pebrero

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00:00Meanwhile, the inflation rate of the Philippines has slowed this March,

00:04according to the Philippine Statistics Authority.

00:06According to NEDA,

00:07the government's efforts to lower the prices of goods are effective.

00:13Here is the report.

00:16The inflation rate of the country has slowed even more

00:19according to the latest report of the Philippine Statistics Authority.

00:22According to the PSA,

00:23the headline inflation has slowed to 1.8% this March

00:27from 2.1% last February.

00:29Because of this, the average inflation rate of the country

00:33has also slowed from January to March to 2.2%,

00:35which is worse than the inflation rate of March 2024,

00:39which was 3.7%.

00:41According to the agency's data,

00:43this is followed by a slowdown in the price of food

00:45and non-alcoholic beverages to 2.2% from 2.6%.

00:49There is also a big decrease in the transport cost to negative 1.1%

00:53from negative 0.2%

00:56and a slowdown in the restaurant and accommodation services inflation

00:59to 2.3% from 2.8%.

01:02While showing that inflation is slow,

01:04there are other primary needs

01:06such as clothing, household maintenance, health, and recreation.

01:10According to Undersecretary Claire Dennis Mapa,

01:12since the pandemic began,

01:14they have witnessed a high rise in inflation contraction

01:17compared to previous years.

01:20This March, it was negative 7.7%.

01:23Last month, February, it was minus 4.9%.

01:28You're asking what is the lowest, right?

01:30This is in 2020.

01:34In March of 2020, it was minus 8.4%.

01:38That's the lowest before this one.

01:40When asked what is the expected effect of inflation contraction,

01:44Mapa explained that it will still depend on production in the second quarter of the year,

01:48particularly in the agriculture sector.

01:51The good news is that the price of rice is really decreasing.

01:55So we saw that our rice inflation is already negative

02:01and this has a big contribution to food inflation in particular.

02:08Meanwhile, despite the high price that some bought,

02:11they still witnessed a decrease in inflation when it comes to meat and vegetables.

02:15The meat price was 8.2% in March.

02:18It went down a bit, 8.8% in February,

02:22but it's still relatively high.

02:24And then the vegetables, which is also a big weight in our food basket,

02:33it's 6.9% now.

02:35It went down a bit because it was minus 7.1% in February.

02:41In the National Capital Region,

02:43it was also recorded a decrease in inflation of 2.1% from 2.3%

02:47even outside the NCR,

02:49which went down from 1.8% to 2.0%.

02:52In addition, the National Economic and Development Authority

02:55said that the continuous slowdown and decrease in inflation in the country

02:58only shows that the government's actions are effective

03:02in stabilizing the price of goods

03:04so that each citizen can maintain their income.

03:07According to Secretary Arsenio Balisacan,

03:09the government will continue its short and long-term initiatives

03:13to address the inflationary pressures

03:16and how it will implement policies

03:19to ensure that each Filipino will benefit

03:22from a stable economy.

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