The headline inflation in Central Luzon accelerated to 7.1 percent in September 2022 from 6.5 percent in August 2022, as reported by NEDA 3 Economic Development Specialist Mr. Al Jonnel L. Espiritu during the 42nd Inter-cluster meeting of the Central Luzon Regional Task Force on COVID-19 on 18 October 2022 via videoconferencing.
The food group remains the major driver of inflation pushed by the price increases in rice, meat, fish, milk, sugar, oils, among others. The inflation in electricity, fuels, gasoline, and passenger transport also gave weight to the month’s inflation.
Mr. Espiritu highlighted the various interventions implemented by the Recovery Cluster agencies to manage supply and prices of basic commodities. These include Kapatid Mentor Micro Entrepreneurs – Money Market Encounter of the Department of Trade and Industry 3; National Fish Broodstock Development Program and Fuel Subsidy Program of the Bureau of Fisheries and Aquatic Resources 3; and High Value Crops Development Program of the Department of Agriculture 3.
Mr. Espiritu also informed that protecting the purchasing power particularly for food is a major objective in the strategic framework of the Central Luzon Regional Development Plan 2023-2028.
(Al Jonnel L. Espiritu, NEDA 3-DRD)