INFLATION IS DUE TO OIL AND RICE PRICE HIKE. THOUGH INFLATION INCREASED, IT WILL GO DOWN -- IT WILL GET BETTER FROM HERE.

INFLATION IS DUE TO OIL AND RICE PRICE HIKE. THOUGH INFLATION INCREASED, IT WILL GO DOWN -- IT WILL GET BETTER FROM HERE!

The government remains committed to addressing the challenges posed by the 6.1% inflation rate recorded for September 2023 and has initiated a series of measures, including a digital Food Stamp Program, fuel subsidies, and targeted assistance for farmers, which extend beyond the short term. 

  

The President and his cabinet are actively working to alleviate transportation costs and make long-term investments in irrigation and modern farming practices to support our agricultural community. 

  

Furthermore, we are pleased to report that our economic managers anticipate a moderation in rice prices, as local production increases due to the onset of the harvest season and the entry of rice imports previously ordered. This will further alleviate the burden on our citizens. 

  

The administration's dedication remains unwavering in ensuring stability and providing assistance to those in need, safeguarding the citizens' interests in these challenging times.

Keynotes: 

- The reported 6.1% inflation rate in September is *due to oil and rice price hike during month BUT is expected to dissipate in the October figures due to the sharp decline in global oil prices during the end of September and compliance with the rice price ceiling imposed by the President.*

*https://www.philstar.com/bansa/2023/09/01/2293032/marcos-nagpatupad-ng-price-cieling-sa-bigas-p41-p45-kada-kilo

Different officials have been saying, *Filipinos could expect inflation, or the rate of increase in consumer prices, to go down in the days ahead.*

- House Ways and Means Chair Joey Sarte Salceda: This is probably the worst inflation rate we will record for the -ber months, and IT GETS BETTER FROM HERE

- Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio “Dong” Gonzales Jr. said inflation is expected to go down in days ahead. He said the government can control rice prices but has little influence on the retail rates of oil products which are largely dictated by the cost of imported crude oil in the world market.

- House Committee on Agriculture and Food Chair Quezon 1st District Rep. Mark Enverga on Thursday expressed optimism that inflation had peaked in September, expecting prices of all major agricultural products to soon decline.

*Government is doing its best to help those who are in need:*

- The administration is trying to help the poor and transportation sectors that are greatly affected by high fuel, power and consumer prices by extending financial assistance through the appropriate state agencies like the DSWD and the DOTr.

- President BBM is doing his best to fix the complex problems of the agriculture sector. And Congress has been helping him by passing the needed legislative measures like the law condoning the debt of more than one million farmers so they can produce more rice and other products. But putting the house in order will take time. Let us be patient for the results. 

*The harvest season is here:*

HARVESTING SEASON NA, RICE PRICES WILL GO DOWN!

As the harvest season approaches, we can anticipate stabilization and, eventually, a decrease in inflation rates. Our nation's agricultural sector is a cornerstone of our economy, and the bountiful harvests ahead will undoubtedly have a significant impact on curbing inflation.

#PBBMGoodNews

#TatakMarcos

#MarcosPaRin