MANILA – The Department of Agriculture (DA) has expressed cautious optimism following the announcement of a significant decrease in the country’s inflation rate for September, which has reached its lowest point in four years.
According to Philippines News Agency, Assistant Secretary Arnel De Mesa, DA spokesperson, spoke at the Saturday News Forum in Quezon City, welcoming the latest inflation figures. The national headline inflation rate has slowed to 1.9 percent in September, down from 3.3 percent in August and a sharp drop from 6.1 percent in the same month last year. This decline was primarily attributed to reduced food inflation, which fell to 1.4 percent, with rice inflation notably decreasing from 14.7 percent in August to 5.7 percent in September.
De Mesa highlighted the government’s tariff reduction on rice imports—from 35 percent to 15 percent—as a key factor in curbing rice prices. He also credited several government initiatives, such as the “Rice for All” program and the PHP29 subsidy, for their role in easing inflationary pressures. The recent lifting of India’s export ban on non-Basmati white rice also contributed to the positive outlook, with expectations for further price stabilization in the upcoming months.
Despite the typical increase in food demand during the holiday season, De Mesa anticipates that these developments will help maintain moderate rice prices, providing relief to consumers and helping stabilize the market.