Despite the uptick, attributed mainly to higher food inflation rates, the average first-quarter inflation rate remains within the annual target at 3.3%.
In a statement, NEDA highlighted ongoing efforts to ensure ample supply and mitigate price spikes, including water supply monitoring and farmer support against El Niño effects, while preparing for the La Niña weather phenomenon.
Additionally, the government's Lifeline Rate program provides targeted relief to vulnerable sectors from electricity price hikes, aligning with strategies to maintain inflation within the 2.0-4.0% target through 2024-2028, the agency said.
