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Inflation rate eased slightly in June 2024 to 3.7 percent from 3.9 percent in the previous month, according to the Philippine Statistics Authority .This brought the year-to-date inflation to clock 3.5 percent, within the government’s ceiling of 2 percent to 4 percent.
Meanwhile, House ways and means committee chair Joey Salceda said that inflation is “under control”, as he expressed optimism that President Marcos’ measures to reduce imported rice tariffs and boost agricultural production will yield results in the inflation figures for next month. In a separate statement, the National Economic and Development Authority attributed the decline in the June inflation to the lower energy and transportation costs.
“We are committed to maintaining the country’s inflation rate within our target range of 3 to 4 percent,” Arsenio Balisacan, secretary of the National Economic and Development Authority said. “We will continue to work closely with the government, stakeholders, and other priority sectors to implement necessary measures to ensure that the country will have a sufficient and affordable food supply—including rice—for every Filipino,” the country’s chief economic planner said.
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