June 06, 2018

STATEMENT

During the June 5 press briefing on the May 2018 inflation report, NEDA showed how a hypothetical monthly budget of Php10,000 will be affected by a 4.6-percent inflation rate.

The budget was broken down into items commonly consumed by a Filipino household based on the Consumer Price Index (CPI) weights published by the Philippine Statistics Authority.

NEDA showed the specific commodities most affected by inflation (e.g. food and fuel). The agency also explained the causes, citing the minimal contribution of tax reform to price increases, and detailed concrete actions the government is taking to address these.

The government will continue to push for the immediate passage of the Rice Tariffication Act, to speed up the implementation of the Unconditional Cash Transfer program, fuel subsidies for jeepney drivers through the Pantawid Pasada Program, and the PUV Modernization Program, and to ramp up investments in infrastructure.

We remain committed to enabling all Filipino families to live a comfortable, secure, and strongly rooted life in line with Ambisyon Natin 2040, the national long term vision.

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