MANILA – Ensuring the continued reopening of the economy will benefit domestic inflation rate, which further slowed down to 3 percent in January 2022, an official of National Economic and Development Authority (NEDA) said on Friday.
The sustained deceleration of domestic rate of price increases in January, from month ago’s 3.2 percent, is among the positive economic developments in the domestic economy to date, according to NEDA Undersecretary Rosemarie Edillon during the Palace virtual briefing
“Going forward ang pinaka, kumbaga robust na na-move talaga natin is to revive the economy kasi kapag marami ang magpo-produce, magkakaroon tayo ng maraming supply. Ito talaga ang magpapa-stable ng ating mga presyo (Going forward, our most robust move is to revive the economy because if there will be strong production activities then there will be more supply. This will help stable our prices),” she said.
Citing latest inflation data, Edillon said price increases of meat and fish contributed to the upside risk on inflation rate last month.
“And for this reason, magrerekomenda kami actually na i-extend iyong validity ng Executive Orders 133 and then 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, the Executive Orders that increase the minimum access volume to allow us to increase pork importation and then lower the tariff),” she said.
Edillon said they are also working with lawmakers to pass Senate Bill 139 or the Philippine Livestock Industry Development Act that seeks to strengthen the industry and promote its development, protection and regulatory functions. The bill covers dairy and native animals, and poultry.
The bill also aims to establish a livestock development fund to secure yearly government support. (PNA)
