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Assuring the economy’s continuous recovery will boost domestic inflation, which has slowed to 3% in January 2022, according to a National Economic and Development Authority (NEDA) official.

According to NEDA Undersecretary Rosemarie Edillon during the Palace virtual briefing, one of the good economic trends in the home economy to date is the persistent slowing of the domestic rate of price increases in January, down from 3.2 percent a month ago.

“As we move forward, kumbaga robust na na-move talaga natin is to restore the economy, because kapag marami ang magpo-produce, magkakaroon tayo ng maraming supply,” he said. Ito talaga ang magpapa-stable ng ating mga presyo (Moving forward, our most solid step will be to resuscitate the economy, because strong production activities will lead to more supply.) This will help to keep our prices consistent),” she explained.

Edillon noted that price hikes in meat and fish contributed to the upside risk on the inflation rate last month, citing recent inflation data.

“As a result, magrerecommenda kami na i-extend the validity of Executive Orders 133 and subsequently 134.” Itong Executive Order na itinataas iyong minimum access volume para makapag-import pa tayo ng pork, and then ibaba iyong taripa (And for this reason, we will recommend the extension of the validity of Executive Orders 133 and 134, which increase the minimum access volume to allow us to increase pork importation and then lower the tariff),” she said.

They’re also working with politicians to approve Senate Bill 139, the Philippine Livestock Industry Development Act, which aims to improve the industry and promote its development, protection, and regulatory functions, according to Edillon. Dairy and native animals, as well as poultry, are included in the measure.

The law also proposes to create a livestock development fund that will receive yearly government funding.

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