The February 2021 inflation, which registered at 4.7%, is driven by food inflation, according to the National Economic and Development Authority (NEDA).
We are intensifying efforts to ease inflation through immediate interventions, such as augmenting the supply of meat. We have implemented pro-active measures, which include the President’s signing of Executive Order No. 124, that imposed a price ceiling on selected pork and chicken products in the National Capital Region, procuring hogs from Visayas and Mindanao and ASF-free Luzon provinces and transporting them to major public markets in Metro Manila; providing transport subsidy for pork coming from different ASF-free areas, among others.
Our economic managers see the upward inflation trend as temporary and concerned agencies in the Executive branch continue to check the prices of basic commodities while ensuring that prevailing rates are likewise fair to suppliers.