Efforts by the Department of Agriculture (DA) to rein in the price of rice and other food items helped slow inflation in April, bringing it to its lowest level since before the COVID-19 pandemic.

The Philippine Statistics Authority (PSA) reported Tuesday that headline inflation eased to 1.4 percent in April, the slowest since the 1.2 percent rate recorded in November 2019.

Food inflation also decelerated significantly, dropping to 0.7 percent from 2.3 percent in March and 6.3 percent in April 2023.

“We are encouraged that our initiatives to enhance supply and stabilize agricultural commodity prices are easing the financial burden on millions of Filipino consumers, especially low-income families,” said Agriculture Secretary Francisco P. Tiu Laurel Jr.

Inflation for the bottom 30 percent income household slipped to a record low 0.1 percent in April.

However, he noted that challenges remain: “There are still supply and value chain issues the DA is actively addressing, particularly in the pork sector, which could further stabilize food prices moving forward.”

Pork supply had been hurt by the lingering African Swine Fever. But the DA is just commercial roll out of ASF vaccine to start its massive hog repopulation program.

On May 1, the DA launched its P20-per-kilo rice program in Cebu City, with a broader rollout planned after the elections. The initiative, along with other DA-led options, has contributed to lower rice prices. After declining by 7.7 percent in March, rice prices dropped another 10.9 percent year-on-year in April.

The PSA also reported slower inflation for vegetables, tubers, plantains, cooking bananas, meat, fruits, fish, and other seafood, signaling a broader easing of food costs. ###