Gov’t anti-inflation measures paying off, says NEDA chief

The National Economic and Development Authority (NEDA) on Friday affirmed that the government’s anti-inflation strategies are proving effective, as the country’s inflation rate continued its downward trend, easing to 1.8 percent in March 2025.

In a statement following the release of inflation data by the Philippine Statistics Authority (PSA), NEDA Secretary Arsenio Balisacan credited the Marcos administration’s targeted policies for stabilizing prices and helping protect Filipino households' purchasing power.

“The continued decline in inflation indicates the effectiveness of the government's proactive measures to stabilize prices,” Balisacan said. “We will continue to monitor potential risks such as electricity rate hikes and increases in fish and meat prices and address them through timely and targeted interventions.”

Inflation slowed from 2.1 percent in February, largely driven by a substantial drop in rice prices following the government’s move to reduce tariffs on imported rice in July 2024. According to PSA Undersecretary Claire Dennis Mapa, rice prices fell by PHP3 to PHP5 per kilogram between July and March.

Balisacan cited several government initiatives aimed at managing inflationary pressures. These include an agreement between the Insurance Commission and the Philippine Crop Insurance Corp. to provide better coverage for farmers and support from the Department of Science and Technology for rapid detection of African swine fever.

Other measures include the Department of Agriculture’s (DA) partnership with Thailand’s Charoen Pokphand Foods PLC to stabilize pork prices in Metro Manila and the expansion of Kadiwa Stores in National Housing Authority communities to provide affordable food options.

“Banking on the positive results of our short- and long-term initiatives, the government will remain focused on implementing policies to ensure that every Filipino benefits from a stable and resilient economy,” Balisacan added.

The NEDA chief also acknowledged the possible impact of new U.S. trade policies, specifically the reciprocal 17 percent tariff set to be imposed on Philippine goods starting April 9. Despite this, he said the country would remain committed to strengthening macroeconomic fundamentals, enhancing the ease of doing business, and exploring new trade agreements to sustain inclusive growth.