The Office of the President (OP) welcomed the easing of inflation in May but stressed that the government “remains cautious“ as key price pressures continue to affect consumers, Office of the Executive Secretary Undersecretary Erwin Sta. Ana said on Saturday.
The Philippine Statistics Authority (PSA) reported on Friday that inflation slowed to 6.8% in May 2026 from 7.2% in April, as slower increases in transport, food, and energy costs tempered overall price growth.
During an interview on DZRH's Special on Saturday, Sta. Ana said the decline in inflation indicates that government interventions under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) strategy are helping moderate price increases.
“Ito welcome development po ito sa amin but we remain cautious kasi yung mga price pressures po nandyan pa rin,” Sta. Ana said.
He emphasized that the lower inflation rate should not be viewed as a reason for celebration, noting that inflation remains above the Bangko Sentral ng Pilipinas’ target range of 2% to 4%.
“I think it's not a cause for celebration. Bagamat bumaba yung inflation rate natin,” he said.
Sta. Ana identified three major factors continuing to drive inflation: elevated global oil prices, rising rice prices, and increasing electricity costs.
He said high oil prices, fueled by tensions in the Middle East, remain beyond the government’s 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.
Sta. Ana also cited higher rice prices as another major contributor to inflation, along with rising electricity rates driven by higher generation charges.
“‘Yung tatlo na yan, yung langis, yung bigas at kuryente, kalahati na ho yan noong 6.8% na naiulat kahapon,” he said.
According to Sta. Ana, the UPLIFT program, launched by President Ferdinand R. Marcos Jr., focuses on addressing major sources of inflation through coordinated efforts among government agencies.
“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.
Sta. Ana added that government preparations for the anticipated severe El Niño conditions later this year are also part of broader efforts to manage inflation and protect food supply and livelihoods.
“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.
Sta. Ana vowed that the government would continue implementing measures under the UPLIFT program despite the easing of inflation.
