The Office of the President (OP) has welcomed the slowdown of inflation in May but stressed that the administration remains highly vigilant due to lingering price pressures, Office of the Executive Secretary Undersecretary Erwin Sta. Ana announced on Saturday.
The Philippine Statistics Authority (PSA) reported on Friday that inflation eased to 6.8% in May 2026 from 7.2% in April. The decline was largely driven by a slower rate of price increases in transport, food, and energy.
In a radio interview, Sta. Ana noted that the lower figures indicate that state interventions under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) strategy are effectively tempering price growth.
However, he clarified that the development is no reason to celebrate, especially since the current inflation rate still sits far above the Bangko Sentral ng Pilipinas’ 2% to 4% target band.
“Ito welcome development po ito sa amin but we remain cautious kasi yung mga price pressures po nandyan pa rin,” Sta. Ana said. “I think it’s not a cause for celebration. Bagamat bumaba yung inflation rate natin.”
The Palace official pointed out three primary drivers that continue to fuel inflation: elevated global oil prices, rising rice prices, and increasing electricity costs.
Sta. Ana admitted that international oil prices, volatile due to ongoing geopolitical tensions in the Middle East, remain outside of domestic control.
“Mataas pa rin, yung presyo ng langis gawa ng gulo sa Middle East. Wala naman tayong talagang control dyan. But of course, yung effect niya, ‘yun yung tinatry na i-manage ng gobyerno ngayon,” he added.
He further explained that oil, rice, and electricity collectively account for a massive chunk of the current consumer price burden.
“‘Yung tatlo na yan, yung langis, yung bigas at kuryente, kalahati na ho yan noong 6.8% na naiulat kahapon,” he said.
To mitigate these impacts, Sta. Ana said the Marcos administration’s UPLIFT framework relies on coordinated inter-agency action to protect ordinary consumers from food and transport shocks.
“Itong UPLIFT, yung ginawa po ng Pangulo na Unified Package for Livelihoods, Industry, Food and Transport, which in OES [Office of the Executive Secretary], tumutulong po kami sa pag-coordinate sa mga ahensya ng pamahalaan, naka-focus po dito, bukod sa iba pang mga bagay, pero yung tatlong price pressures na yan. ‘Yan yung talagang tinututukan natin kasi importante po yan eh kasi ang ano dyan yung pagkain, yung transportasyon na malapit po talaga sa mga mamamayan,” he said.
Looking ahead, Sta. Ana mentioned that the government is already factoring a predicted severe El Niño phenomenon later this year into its overarching inflation-management and food-security plans.
“Kasama po dyan yung atin ding paghahanda sa tinataya natin na severe El Niño towards the latter part of the year. Kasama po yan sa lahat ng preparasyon,” he said.
The Executive Secretary’s office assured the public that anti-inflation programs under the UPLIFT initiative will continue aggressively despite the slight economic relief in May.