top of page

NEDA sees inflation rate cooling down by mid-2023

Metro Manila, February 26 ------ Consumers may see a lower inflation rate by the middle of the year, the National Economic and Development Authority (NEDA) said.

"If we are lucky and are able to address our issues quickly, we should be able to see that inflation coming down by the mid of this year," NEDA Secretary Arsenio Balisacan said in a media briefing, but did not provide exact figures. Philippine inflation further accelerated to 8.7% in January — the highest recorded since November 2008.

Balisacan expressed hope that better numbers are on the horizon in the next few months, citing the harvest season for farmers among other factors. "We are hoping that we see a plateau already of that inflation," the NEDA chief said. "February, March - that's a good harvest season for our farmers, and we did not have any major typhoons during the last few months. We are expecting a better data there. But there are always surprises."

Meanwhile, when asked if the government will provide inflation assistance similar to the recent move of the Senate, Balisacan said it will not be feasible to provide the same aid for all. "Hindi feasible na lahat naman ay pare-pareho iyong treatment, kasi as you know, our fiscal space is very, very limited," he said. The official added that the government continues to focus on the vulnerable population for now.



bottom of page