The Palace considers the easing of the August 2020 inflation to 2.4% a positive development. We credit this to the gradual re-opening of the economy, where we see a decrease in food prices.
Keeping the prices of basic commodities stable in this period of global health crisis and economic uncertainty remains our topmost priority. This is in line with the vow of President Rodrigo Roa Duterte that no Filipino gets hungry amid the COVID-19 pandemic.
We will therefore continue to monitor prices of basic goods and make sure there is unhampered flow in the movement and delivery of essential commodities to other places, notwithstanding the localized actions imposed in some areas.
We are also encouraged by data showing the agriculture sector’s resilience, and proving the effectiveness of President Duterte’s policies and programs for farmers and fisherfolks. We will sustain these programs to boost agricultural production in the long-term.