President Ferdinand 'Bongbong' Marcos Jr. sees the need to improve the country's production following the all-time high <a href="https://dzrh.com.ph/post/psa-december-inflation" target="_blank" rel="noopener">8.1 percent inflation rate</a> in the last month of 2022.&nbsp;
On Thursday, the Philippine Statistics Authority (PSA) said the December 2022 inflation slightly increased from the 8.0 percent recorded in November 2022. It is also the highest inflation recorded since November 2008.&nbsp;
"It&rsquo;s still agricultural products, 38 percent of the inflation &mdash; 11 percent is fuel, 38 percent is agricultural products pa rin. Kaya&rsquo;t kailangan talagang ayusin &lsquo;yung production natin. Kasi import tayo nang import. So &lsquo;yung inflation doon sa ini-importan natin nadadala dito sa Pilipinas," Marcos told reporters before his departure in Beijing, China.&nbsp;
The President recently finished his three-day state visit to China where he was able to earn&nbsp;a total of $22.8 billion or over PHP 1.2 trillion in <a href="https://dzrh.com.ph/post/prez-marcos-gets-dollar22.8-b-worth-of-investment-pledges-from-china" target="_blank" rel="noopener">investment pledges</a> for the country.&nbsp;
"We have to improve our production. We have to improve all of that.&nbsp; Kaya naman talagang central ang agriculture sa lahat. Thirty-eight percent of the inflation comes from agricultural products. We talked about fuel. Eleven percent ang fuel. So &lsquo;yun ang dalawa talaga na kailangan natin tutukan," Marcos Jr. continued.&nbsp;
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According to PSA, the uptrend in the December 2022 national inflation was mainly attributed to food and non-alcoholic beverages with a 10 percent inflation rate and 38.9 percent share in the uptrend.
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It added that vegetables, tubers, rice, fruits, and nuts were the major drivers in the spike in inflation in food and non-alcoholic beverages.
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The restaurants and accommodation services also contributed to the December 2022 inflation with a 7.0 percent inflation rate from 6.5 percent in November 2022.
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This was followed by the commodity group of housing, water, electricity, gas, and other fuels with an inflation rate of 7.0 percent also.
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