By Kris Crismundo and Stephanie Sevillano | Philippine News Agency
Government efforts to control inflation are showing results as the country’s inflation rate continued to ease, the National Economic and Development Authority (NEDA) said.
In a statement Friday following the 1.8% inflation rate in March 2025 reported by the Philippine Statistics Authority (PSA), NEDA Secretary Arsenio Balisacan said the lower inflation shows that the government’s efforts to keep prices stable are working.
Inflation in March 2025 eased from 2.1% in February mainly due to substantial decrease in rice prices since the Marcos administration implemented the tariff reduction on imported rice in July 2024.
PSA Undersecretary Claire Dennis Mapa, in a press briefing, said rice prices have decreased by around P3 to P5/kg between July 2024 and March 2025.
“The continued decline in inflation indicates the effectiveness of the government’s proactive measures to stabilize prices and protect the purchasing power of Filipino households,” Balisacan said.
“While the inflation rate continues to ease and remain within the target range, we commit to monitoring risks and shocks, particularly on anticipated electricity rate hikes and higher prices of fish and meat, and addressing them through timely and targeted interventions,” he added.
The NEDA chief cited government proactive measures to reduce the impact of risks and rising food prices, which include the partnership between the Insurance Commission and the Philippine Crop Insurance Corp. to give better insurance to farmers in case of disasters, pests, or plant diseases, as well as the Department of Science and Technology’s supporting research to detect African swine fever quickly to protect local livestock.
The Department of Agriculture (DA) has partnered with Thailand’s Charoen Pokphand Foods PLC through the state-owned corporation Food Terminals, Inc. to help stabilize pork prices in Metro Manila, while DA’s partnership with the National Housing Authority to open Kadiwa Stores in housing areas is expected to give residents access to affordable goods.
“Banking on the positive results of our short- and long-term initiatives to address inflationary pressures, the government will continue focusing on implementing policies to ensure that every Filipino benefits from a stable and resilient economy,” Balisacan said.
Meanwhile, the country’s top economist said the government would remain vigilant regarding the potential implications to the economy of the reciprocal tariffs to be imposed by the United States on their imports starting April 9, 2025.
The new executive order will levy Philippine goods entering the US market with a 17% tariff.
“With or without the trade policy changes in the US, maintaining sound macroeconomic fundamentals, improving the ease of doing business, maximizing existing trade agreements, and forging new partnerships are still the most important strategies we can pursue to ensure that we protect the purchasing power of Filipinos and promote rapid, sustained, and inclusive growth,” Balisacan said.
DA: MSRP on rice, pork helped tame inflation
Meanwhile, Agriculture Secretary Francisco Tiu Laurel Jr. said the imposition of a maximum suggested retail price (MSRP) on agricultural commodities such as rice and pork helped in taming the overall inflation in the country.
He said the MSRP helped ensure a downward trend in food prices.
“While some sectors doubted the effectiveness of our MSRP implementation, the inflation numbers clearly show that we are on the right path in protecting the welfare of millions of Filipino consumers, while also ensuring that agricultural workers and others in the value chain receive a fair return for their hard work,” Tiu Laurel said.
As of March 31, the MSRP for 5% broken imported rice is at P45/kg, down from the initial P58/kg maximum in January.
The DA said the lower MSRP will remain for two months to “protect” farmers and help them secure a “reasonable” buying price of palay (unhusked rice) from rice traders amid the harvest season.
From more than P60/kg-price levels of 5% broken imported rice in local markets before the MSRP implementation, the prevailing price in Metro Manila as of April 3 ranges from P44/kg to P55/kg, with the prevailing price at P49/kg, according to the DA-Bantay Presyo.
On the other hand, well-milled imported rice ranges from P43/kg to P46/kg; and P35/kg to P45/kg for imported regular milled rice.
The local regular, well-milled, and premium rice, meanwhile, ranges from P33/kg to P62/kg.
Meanwhile, the MSRP for pork is set at P380/kg for liempo (belly); P350/kg for kasim (ham) and pigue; and P300/kg for sabit-ulo.
According to the DA, compliance among retailers is at almost 40%, and 88% among pork producers. It vowed to impose more stringent measures in case low compliance to pork MSRP remains.
To date, the price of pork liempo (belly) ranges from P370/kg to P470/kg; while pork kasim (ham) ranges from P340/kg to P400/kg.
To further help tame inflation, Laurel also vowed to sustain efforts in boosting local production, close monitoring, and ensuring consumers’ access to cheaper agricultural products.