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Arsenio Balisacan, the secretary of socioeconomic planning, has emphasized the critical importance of long-term targeted subsidies and ensuring that there is a plentiful supply of food on the domestic market to assist Filipinos in the face of inflationary pressures.

According to a statement released by Balisacan on Wednesday, “the government’s objective is to make sure that there is a sufficient and cheap food supply for every Filipino family.”

The statement was made by Balisacan, who also serves as the director of the National Economic and Development Authority (NEDA), after the consumer price index (CPI) numbers for September 2022 were made public and showed a 6.9 percent reading, the highest since October 2018.

He claimed that the coronavirus disease 2019 (Covid-19) pandemic, which decreased demand last year, external pressures on commodity prices, logistical difficulties, the effects of weather disturbances, and the volatile exchange rates amid the stronger US dollar are all contributing to the uptick in inflation that is seen not only in the Philippines but also in other nations.

“Compared to former decades, the inflation we are experiencing today is significantly more complex. For common solutions, the government and its stakeholders must work together. We will be able to overcome the current difficulties in the short term by maintaining a sufficient food supply and supporting the most vulnerable sectors, he continued.

According to the Philippine Statistics Authority (PSA), the greatest factor in the higher inflation rate last month was the quicker rate of price growth in the commodity groups of food and non-alcoholic beverages, housing, water, electricity, gas, and other fuels, and transportation.

Malaki ang papel ng sector ng agrikultura upang mapanatiling may sapat na pagkain ang bawat Pilipino pamilya at abot-kaya ang mga pangunahing bilihin. Indeed, the agriculture industry contributes significantly to guaranteeing that every Filipino family has access to an adequate supply of food and other necessities. This is because it serves as a support system for individuals in the agricultural and management sectors. To increase the supply of rice, corn, beef, and fish, we ensure that our farmers and fishermen are supported. Balisacan continued.

According to Balisacan, the Department of Agriculture provided PHP709 million in help and interventions to deal with the damage in production facilities as well as for seed distribution following the recent onslaught of Super Typhoon Karding late last month.

He noted that, in light of the rising cost of fuel, the government is also offering eligible farmers fuel reductions in the amount of PHP3,000 as a subsidy.

According to the NEDA, 148,183 accounts of farmers and fishermen had registered for the fuel discounts as of September 26.

Of the aforementioned accounts, 136,988 have fuel discount cards put on them, and the government has already sent corn growers and fishermen 101,743 cards.

Despite the numerous weather disturbances in the preceding months, the government still anticipates having a sufficient supply of rice, poultry, highland vegetables, yellow corn, and white corn until the end of 2022, according to NEDA.

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