Govt tracks El Niño impact on vulnerable sectors as March inflation hits 3.7%

AS higher food prices drove the inflation rate to increase in March, Finance Secretary Ralph G. Recto said the government is monitoring the effects of El Niño in vulnerable sectors to mitigate inflation.

The food inflation rate was tempered by the slower price increases of eggs and other dairy products at 2.3 percent from 3.5 percent, fruits at 7.9 percent from 8.7 percent, bread and other cereals at 4.6 percent from 5.1 percent, and ready-made food products at 4.3 percent from 4.6 percent. The Finance department laid out the national government’s interventions to ensure food and energy security, clean water supply, and public health safety, as well as targeted support to vulnerable sectors of El Niño and the looming La Niña.

Farmers also received P362.56 million in financial assistance through the Rice Farmers Financial Assistance .

Source: News Formal (newsformal.com)

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