The national government will extend targeted subsidies to specific sectors of the economy that are affected by the “elevated” inflationary pressures, the Department of Finance said on Tuesday. Know more:
THE national government will extend targeted subsidies to specific sectors of the economy that are affected by the “elevated” inflationary pressures, the Department of Finance said on Tuesday, as official inflation data showed the January print accelerating to 8.7 percent, the highest since 2008.
“[The government] will continue to provide targeted subsidies to affected sectors to cushion the impact of elevated inflationary pressures,” Diokno added. Diokno said the national government remains committed to intensifying local food production and improving agricultural productivity. “It is important to look closely into the inflation headline of 8.7 percent. Although it has eased, transport leads at 11.2 percent,” Marcos noted, when sought for a reaction to the PSA report.
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