February inflation eased to 8.6%

The latest figure, however, remained higher than 3 percent registered a year earlier.

National statistician and civil registrar general Dennis Mapa said among the 13 commodity groups, “transport was the sole driver of the downtrend of the overall inflation during the month, recording a 9.0 percent inflation rate in February 2023 from 11.1 percent inflation in January 2023. “We must rethink our strategies to combat rising food prices. The country’s current high inflation is largely driven by domestic, supply-side constraints. Agricultural imports were ill-timed and food supplies have been inadequate. The solution is to get to the root of the problem, including fixing the bottlenecks along all segments of the agricultural value chain,” said NEDA Secretary Arsenio Balisacan.

The country’s chief economist also emphasized the importance of targeted social protection programs in helping the nation’s poorest families and vulnerable sectors cope with the impact of inflation.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Philippines’ February inflation likely remained at 14-year high, analysts sayInflation in the Philippines likely remained high in February as some analysts estimated an average consumer price increase of 8.7 percent, the same pace seen in January, if not higher. | RonWDomingoINQ /PDI
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Philippines’ February inflation seen at 8.8%, new 14-yr-highInflation in the Philippines may have risen to a new 14-year-high of 8.8 percent in February, according to Goldman Sachs, adding voice to forecasts pointing to yet another possible peak. | RonWDomingoINQ /PDI
Source: inquirerdotnet - 🏆 3. / 86 Read more »

PH inflation inches down to 8.6% in February 2023 but Metro Manila rate upThe Philippines’ inflation rate slightly eased to 8.6% in February, but in Metro Manila alone, prices accelerated at a faster pace during the month.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Inflation: Any solutions? | BusinessMirrorAT 9:00 a.m. tomorrow, Tuesday, the government through the Philippine Statistics Authority will release the inflation numbers for February 2023. The previous month’s inflation came in at 8.7 percent and the forecast from international observers this time is that prices will have posted an 8.9 percent increase year-on-year. Month-on-month inflation,…
Source: BusinessMirror - 🏆 19. / 59 Read more »

Cum laude couple tops February 2023 Mech Eng board examA couple from Rizal Technological University (RTU), who both graduated cum laude, made it to the 1st and 6th spots of the February 2023 Mechanical Engineers Licensure Examination. READ:
Source: manilabulletin - 🏆 25. / 51 Read more »

Palace: PDEA report says P592 million worth of illegal drugs seized in JanuaryMANILA, Philippines — Government authorities have confiscated around P592 million worth of illegal drugs in January, Malacañang said Monday. Citing the report of the Philippine Drug
Source: inquirerdotnet - 🏆 3. / 86 Read more »