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The Department of Agriculture on Saturday welcomed the sharp deceleration in the country’s inflation rate last month, which was mainly driven by the slowdown in food prices, particularly rice.“Food prices have significantly declined from the highs posted in the same period last year, with vegetables such as onion and tomatoes, sugar, fish and rice leading the way with the help of various interventions of the Marcos administration,” Agriculture Secretary Francisco Tiu Laurel Jr .
Rice, a staple in the consumer basket, accounts for 9% of the basket of goods and services used to track inflation rate for all consumers and double at 18% for families in the bottom 30% income bracket.During the Saturday News Forum in Quezon City, DA Assistant Secretary and spokesperson Arnel de Mesa said, “We’re happy but with guarded optimism,” noting that supply risks could still affect inflation.
Department Of Agriculture Francisco Tiu Laurel Jr Agriculture Arnel De Mesa
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