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PH increases supply-side actions and agricultural production

According to the National Economic and Development Authority (NEDA), the Philippine government is committed to guaranteeing a reliable food supply and reducing the effects of rising commodity prices in the midst of the global energy crisis.

The headline inflation rate in the nation increased to 6.1 percent in June 2022 from 5.4 percent the previous month, according to data released by the Philippine Statistics Authority (PSA) on Tuesday.

This falls within the anticipated range of 5.7 to 6.5 percent provided by the Bangko Sentral ng Pilipinas for June 2022.

“In order to support the government’s Plant, Plant, Plant 2 program, logistical issues must be addressed right away. Arsenio Balisacan, the secretary of socioeconomic planning, said in a statement, “As the country’s inflation rate rises, we must continue expediting our plans to ensure that Filipinos can still travel to work and provide enough and wholesome food for their families.

Food inflation continued to be the main driver of the increase as it increased further to 6.4 percent from 5.2 percent in May 2022 due to quicker inflation in meat, fish, vegetables, and rice.

The country’s livestock, poultry, and grain industries are being modernized through the Livestock Development and Competitiveness (LDC) Bill.

The LDC Bill includes important elements such as the update of the roadmap for the grain industry and the creation of “competitiveness enhancement funds” for the livestock value chain.

The inflation rate for goods and services other than food increased to 6% in June from 5.6% in May. This was principally caused by a rise in transport inflation from 14.6 percent in May to 17.1 percent, which was driven by unstable global crude oil prices.

On July 4, 2022, the Department of Social Welfare and Development began distributing the first tranche of the Targeted Cash Transfer program in an effort to lessen the effects of increasing fuel costs on low-income households.

The Department of the Interior and Local Government stated that more than 600,000 qualified tricycle drivers will receive gasoline payment subsidies through the Pantawid Pasada Program for Tricycle Drivers to assist lessen the burden of rising oil prices on them.

Up until December 2022, all users of the Edsa bus carousel may participate in the Libreng Sakay Program.

The Libreng Sakay for Students Program LRT-2 and the Philippine National Railways will be implemented by the Department of Transportation during the first trimester of the 2022–2023 academic year, or from August 22, 2022, to November 4, 2022, taking into account the return of in-person instruction.

According to Balisacan, “we must also consider the need to promote alternative work arrangements where these have been proven effective and productivity-enhancing, as well as to encourage the use of alternative modes of transportation, in order to further conserve energy and ensure everyone’s safety amid the rising number of Covid-19 cases.

Long-term pressure on transportation fares and dependence on foreign petroleum may be reduced through other forms of transportation. Additionally, it will support future transportation that is greener and more sustainable, he said.

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