00:00The 1.5% spike in inflation in the country's economy last month is no cause for great concern, let alone alarm.
00:08This in view of the epic drop in July and in the wake of five months in a row of inflation downtrend, as our Bernard Ferrer tells us in this report.
00:19The inflation rate, or the rate at which prices of goods and services increase in the country, remains manageable.
00:25After rising 1.5% in August from 0.9% in July, according to Department of Economy, Planning and Development Secretary Arsenio Balizacan,
00:35the government has intensified its efforts to ensure sufficient supply and keep the prices of basic commodities affordable despite recent calamities.
00:44However, Secretary Balizacan stressed the need to prepare for the possible occurrence of La Nina from September to December.
00:50He said, preparedness efforts must be strengthened and a sufficient food supply ensured to protect consumers from volatile prices.
00:58In a report by the Philippine Statistics Authority, or PSA, it was found that the rise in inflation was driven by the increase in the prices of vegetables and fish,
01:07the slow decline of gasoline and diesel prices, and higher shipping rates.
01:11Nag-attribute na yung impact ng mga bagyo nung nakarambuhan, particularly sa vegetables.
01:18So, sa NCR, sabi ko kanina, 26.5% ang kanyang inflation rate.
01:25Sa areas outside NCR, medyo mas mababa ng konti, pero double-digit pa rin.
01:31Ito ay nasa, I'm sorry, yung vegetable areas outside NCR ay nasa 6.9% yung basket ng vegetables.
01:40Although, pag-titingnan natin, yung mga presyo ng ibang bilihin, ng mga gulay, ay talagang substantial yung increases.
01:48Despite this, rise continued record deflation with prices falling by as much as 17% in August.
01:55Meat inflation also declined, dropping 7.1% from 8.8% in July.
02:00Meanwhile, according to the Banko Sentral ng Pilipinas or BSP,
02:04inflation is expected to remain low for the rest of the year and likely fall below the government's target range.
02:09due to the continued decrease in rise prices.
02:12The BSP also added that inflation expectations remain well anchored and aligned with the government's targets.
02:18Bernard Frere from the National TV Network for New and Better Philippines.
