MANILA, Philippines — Following the lowering of the Philippine inflation rate to 5.4 percent, President Ferdinand Marcos Jr. said on Wednesday that exchanging new ideas and exploring new technologies will help continue the inflation downturn.
Marcos recalled the high inflation rate in the first quarter of 2023, when the price of agricultural products skyrocketed.
“Kaya’t naman itong klaseng pagsasama at pag-exchange of ideas na ginagawa ngayon, ito ay mahalaga dahil (That is why this type of exchange of ideas being done now is important because) we are helping the producers of agricultural commodities to lower the price, make more efficient all their production and also to take full advantage of the new technologies,” said Marcos during an ambush interview at the Livestock Philippines 2023 in the World Trade Center in Pasay City.
Marcos also said that the government had stabilized the price of sugar by making a clear importation schedule.
READ: Sugar imports capped at about 150,000 tons
“That’s why doing this, improving the technologies, helping our farmers at both ends of that value chain, there is an advantage because the farmers will make more money because they are spending less because they are more efficient. At the same time, that price level will translate all the way to the consumer,” said the President.
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