00:00The decrease in the price of rice has been a big help in lowering the inflation rate.
00:05It is expected to continue for the next few months.
00:09This is Joshua Garcia's report.
00:13The Department of Agriculture is positive that the decrease in the price of rice will continue for the next few months.
00:19The government hopes that it will still be able to lower the percentage when it comes to the inflation of rice,
00:24which will also result in a lower overall inflation rate in the country.
00:28It is good to see a single-digit increase.
00:30We can see that after RTL, after a year, there was a big stability in inflation because of rice.
00:39It was only 2 to 4 percent.
00:43So hopefully, we can reach that level again in the near future.
00:47Because of rice, about 25 percent of the total food inflation is due to rice.
00:54So if we lower the rice, the food inflation will be lower and it will have a big effect on the overall inflation numbers.
01:03With the addition of the DA, the effect of Executive Order No. 62 will be more noticeable,
01:08which will reduce the price of rice.
01:11Congressman Wilbert Lee of the AgriPartyList believes that supporting farmers is the most effective solution to inflation
01:18because the time they earn is more likely to increase production and supply, which will lower the price of rice in the market.
01:25According to the Sinag Group, a low inflation rate does not mean a lower price.
01:30On the contrary, it only slows down the price increase.
01:32The Sinag Group believes that the review of rice should also be passed by legislators,
01:37not just by the departments of the agricultural agencies.
01:41The law, every review should be passed by the Congress,
01:47except if the Congress has stopped.
01:52So what they will do, the Executive Department will review,
01:56I don't think that in legality, they don't have the power to review.
02:06On session, the review of rice should be passed by the Congress.
02:14Meanwhile, according to the Philippine Statistics Authority or PSA,
02:18from 20.9% this July, inflation in rice decreased by 14.7% for the month of August this year.
02:26Joshua Garcia for Pambansang TV in Bagong, Philippines.
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