The Philippines’ inflation rate continued to decline in March 2025, signaling that government efforts to control rising prices are having a positive effect, according to the National Economic and Development Authority (NEDA).
In a statement following the release of the 1.8 percent inflation rate by the Philippine Statistics Authority (PSA), NEDA Secretary Arsenio Balisacan credited the lower inflation to the government’s proactive measures, particularly the reduction in rice prices. He noted that the easing of inflation, down from 2.1 percent in February, was largely due to the price drop in rice following the implementation of tariff reductions on imported rice in July 2024.
PSA Undersecretary Claire Dennis Mapa confirmed that rice prices have decreased by PHP3 to PHP5 per kilogram between July 2024 and March 2025. Balisacan expressed optimism about the impact of government initiatives, stating, “The continued decline in inflation indicates the effectiveness of the government’s proactive measures to stabilize prices and protect the purchasing power of Filipino households.”
However, he cautioned that potential risks remain, particularly from expected electricity rate hikes and rising prices of fish and meat. He assured the public that the government is committed to addressing these challenges with timely interventions.
Balisacan also highlighted ongoing efforts to reduce inflationary pressures, including partnerships between the Insurance Commission and the Philippine Crop Insurance Corp. to provide better insurance for farmers, as well as initiatives to stabilize pork prices in Metro Manila and improve access to affordable goods through Kadiwa Stores.
Looking ahead, Balisacan noted that the government would stay vigilant regarding the potential economic effects of the 17 percent reciprocal tariff the US plans to impose on Philippine goods starting April 9, 2025. Despite this, he emphasized that maintaining sound macroeconomic policies, improving the business environment, and maximizing trade agreements remain key strategies to protect Filipino households and promote sustained economic growth.