The government has ramped up efforts to soften the impact of the prolonged Middle East conflict and ease the burden of rising inflation on vulnerable sectors, the Department of Economy, Planning, and Development (DEPDev) said.
DEPDev made the assurance after the Philippine Statistics Authority (PSA) reported on Tuesday that inflation or the rate of increase in the prices of goods and services, accelerated to 7.2 percent in April from 4.1 percent in March, due to the faster annual increase in food prices and non-alcoholic beverages.
In a briefing, National Statistician Dennis Mapa said the latest data brought the year-to-date inflation rate to 3.9 percent.
Food inflation accelerated 6.1 percent from 2.7 percent, as rice inflation rose to 13.7 percent, alongside faster inflation in fish at 9.4 percent from 6.6 percent, and vegetables at 10.4 percent from 7 percent.
Non-food inflation likewise rose to 8.2 percent in April from 4.9 percent, driven by the sharp rise in operating costs of private transport to 65.8 percent from 31.4 percent.
Inflation in electricity, gas, and other fuels reached 16.9 percent from 7.5 percent in March.
To help cushion the impact of the conflict in the Middle East, the Marcos Jr. administration earlier implemented the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), the government’s comprehensive and whole-of-government response framework.
“Amid the Middle East conflict disrupting fuel supply chains, the government is intensifying targeted interventions, particularly to temper upward price pressures on food, energy, and transport, while ensuring the continued stability of domestic supply,” DEPDev Secretary Arsenio Balisacan said.
In line with the UPLIFT, the Department of Energy (DOE) is continuously seeking alternative energy sources while developing local capacity to secure a stable fuel supply.
As of April 24, a total of 2.91 billion liters of fuel supply has been secured, with 1.305 billion liters scheduled for delivery, equivalent to 54 days of inventory.
Targeted support is also being provided to vulnerable and affected sectors.
As of April 24, a total of 1.11 million drivers were given financial assistance, while 366,009 fuel subsidy recipients and 2.36 million commuters were also given 20 percent fare discounts as of April 27.
DEPDev said financial assistance to farmers and fisherfolk is being extended through dedicated programs, including the Department of Agriculture’s suspension of loan repayments of up to one year under the Survival and Recovery Program of the Agricultural Credit Policy Council and the piloting of a lower-cost fertilization protocol to reduce reliance on urea, a key petroleum-based input in rice production.
Additionally, 787 Kadiwa ng Pangulo sites and price support outlets have been established to connect consumers directly to farmers and producers for lower-priced rice and other essential food products.
The recently launched UPLIFT microsite can be accessed through https://uplift.gov.ph/, which provides weekly updated information on the program’s implementation.
“We remain committed to a whole-of-government approach in addressing the impact of the Middle East crisis. Our priority is to ensure stable fuel supply, manageable prices, and adequate protection for all sectors amid ongoing domestic and global challenges,” Balisacan said.
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