PNA
MANILA – Speaker Ferdinand Martin Romualdez on Thursday welcomed the continued drop in inflation to 1.3 percent in May, calling it “good news” that should be felt directly by Filipino families.
“Simple man pakinggan, pero malaking bagay ito sa panggastos ng pamilya. Kapag hindi tumataas ang presyo, mas kayang buhayin ang pamilya. Gumagaan ang pasanin, may pambili ng bigas, pamasahe, kuryente at gamot sa pamamagitan ng mga programa ni Pangulong Ferdinand R. Marcos Jr. Hindi na kailangang isakripisyo ang ibang pangangailangan (It may be simple to hear, but it has a big impact on a family’s expenses. If prices don’t increase, it’s easier to provide for the family. The burden becomes easier, there is money for rice, transportation fare, and medicine through the programs President Marcos. There’s no need to sacrifice other needs),” Romualdez said in a statement.
The Philippine Statistics Authority (PSA) reported that inflation slowed to 1.3 percent in May from 1.4 percent in April, bringing the year-to-date average to 1.9 percent — well within the Bangko Sentral ng Pilipinas’ 2 to 4 percent target range. This is also the lowest recorded rate in more than five years.
Romualdez noted that inflation for the bottom 30 percent of households was effectively zero in May, reflecting the government’s success in shielding the poorest sectors from rising prices.
“This isn’t just about charts or graphs. This is about the question every parent asks: Is our income enough to get us through the week? Right now, the answer is a little more hopeful than before,” he said.
The PSA attributed the slower inflation to reduced increases in the cost of housing, electricity, gas and water, which rose by only 2.3 percent.
Food inflation also remained low at 0.7 percent, a sharp drop from 6.1 percent in May 2024. Transport costs declined further, while core inflation, which excludes food and energy, held steady at 2.2 percent.
Romualdez credited President Ferdinand R. Marcos Jr. and the country’s economic managers for their steady and coordinated response to inflation.
“President Marcos has made inflation control a top priority. The results are now becoming clear — less price volatility, more certainty, and concrete benefits for Filipino households,” he said.
The leader of the House of Representatives reiterated that the legislative chamber remains focused on protecting the purchasing power of ordinary Filipinos.
“In Congress, we are working on laws that will lower rice prices, support our farmers, and make basic goods and services more affordable. We can’t be complacent just because inflation is low this month. The goal is lasting relief,” he said.
Among the House’s key priorities are amendments to the Rice Tariffication Law, the restoration of the National Food Authority’s regulatory functions, and long-term investments in agriculture and food logistics.
Romualdez also stressed that economic progress should be measured by its impact on ordinary lives. (PNA)
