Inflation in December of last year is seen to have moderated to 3.2%, down from the previous month’s 3.3%, on the back of more stable food prices and lower power costs.
Read MoreThe Department of Finance (DOF) expects the rate of increase in consumer prices to inch up in the coming months but would remain within the government’s inflation target.
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TRANSCRIPT: (Reuters) Purisima, CVPs residence, February 10, 2012. On inflation Purisima: The main drivers of inflation in the Philippines are food and oil prices. On the part of the food, its been well maintained. Harvest has been good. In fact, the biggest part of the food component is rice. As you know, last year was a very good year for Philippine rice harvest. Its a priority of the president to improve productivity and reduce the vulnerability of our rice production by diversifying the areas of rice plantation to areas that are less prone to typhoons. For example, DA has started planting in the Iwahig colony in Palawan. Thats just an example of the moves of the president so that has kept rice prices in the Philippines stable.
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