JAKARTA - The Philippine government is strengthening measures to mitigate the impact of the prolonged conflict in the Middle East after April's inflation jumped sharply. The most noticeable pressure comes from food, energy, and transportation prices.
Launching a report from the Philippine News Agency (PNA) which was quoted on Tuesday, May 5, the Philippine Department of Economic, Planning and Development or DEPDev stated that the government was trying to ease the burden on vulnerable groups.
The Philippine Statistics Authority recorded April inflation rising to 7.2 percent. In March, the figure was still 4.1 percent. This increase was mainly triggered by a surge in food and non-alcoholic beverage prices.
National Statistics Chief Dennis Mapa said inflation for the year to date now stands at 3.9 percent.
The biggest pressure comes from food. Food inflation rose to 6.1 percent from 2.7 percent. Rice inflation soared to 13.7 percent. Fish rose to 9.4 percent from 6.6 percent. Vegetables rose to 10.4 percent from 7 percent.
Outside of food, the pressure is also great. Non-food inflation rose to 8.2 percent from 4.9 percent. One of the triggers is the surge in the cost of personal transportation operations, from 31.4 percent to 65.8 percent.
Electricity, gas, and other fuels add to the burden. Inflation reached 16.9 percent, up sharply from 7.5 percent in March.
To contain the impact of the Middle East conflict, the government of President Ferdinand Marcos Jr. is implementing the UPLIFT program, an acronym for the Unified Package for Livelihoods, Industry, Food, and Transport. This program is the framework for a cross-agency response.
"In the midst of the Middle East conflict that disrupts the fuel supply chain, the government is intensifying targeted interventions, especially to mitigate the pressure of rising food, energy, and transportation prices, while ensuring domestic supply stability," said DEPDev Secretary Arsenio Balisacan, quoted by PNA.
The Philippine Energy Department is also looking for alternative energy sources and strengthening domestic capacity to make fuel supplies safer.
As of April 24, the government has secured 2.91 billion liters of fuel supply. A further 1.305 billion liters are scheduled to arrive. In total, this is equivalent to a 54-day supply.
Assistance has also been directed to vulnerable and affected sectors. As many as 1.11 million drivers have received cash assistance as of April 24. In addition, 366,009 fuel subsidy recipients and 2.36 million passengers received a 20 percent fare discount as of April 27.
Farmers and fishermen also received relief. The Ministry of Agriculture suspended loan payments for up to one year through the agricultural credit recovery program. The government is also testing lower-cost fertilization to reduce dependence on urea, an important petroleum-based ingredient in rice production.
To suppress food prices, the government opened 787 Kadiwa ng Pangulo points and price support outlets. The scheme is simple, consumers are directly connected to farmers and producers so that rice and staple foods can be sold cheaper.
"We remain committed to the whole-of-government approach in addressing the impact of the Middle East crisis. Our priority is to ensure a stable supply of fuel, controlled prices, and adequate protection for all sectors amid domestic and global challenges," said Balisacan.
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