Palace: Uplift strategy helps bring down inflation rate

MANILA, Philippines — Malacañang on Friday said the easing of inflation in May proves that the government’s measures under the Unified Package for Livelihoods, Industry, Food, and Transport (Uplift) strategy are gradually producing results.

The country’s inflation eased to 6.8 percent in May from 7.2 percent in April, as transport and food prices softened amid the energy crisis driven by the Middle East conflict, according to the Philippine Statistics Authority.

READ: Inflation slows to 6.8% in May

“The decline in inflation to 6.8% this May is good news for Filipino families. It is a sign that the government’s measures under the Uplift strategy are gradually bearing fruit,” Castro said in a Viber message to reporters.

Castro said the government remains vigilant and is continuing preparations to address the potential effects of El Niño and other economic risks.

“However, we are not yet complacent. There are still risks, such as a possible increase in oil prices and the effects of El Niño,” she said.

“That is why we continue to implement measures to keep essential goods affordable, protect the budget of every family, and create more jobs for Filipinos,” the Palace official added.

Uplift is the government’s framework and coordinated response to protect Filipinos from economic, fuel, and energy shocks stemming from Middle East tensions.

It was created under Executive Order No. 110, when President Ferdinand Marcos Jr. declared a national energy emergency.

Under this strategy, the government has rolled out cash and fuel subsidies for drivers, agricultural input for farmers, among others. /das