Provision of subsidy to the poor is expected to ease up inflationary pressures and protect the purchasing power.

The Philippine Statistics Authority has reported that the country's inflation rate eased slightly to 6.3 percent in August 2022 from 6.4 percent in the previous month.

Within expectation

This is within the Bangko Sentral ng Pilipinas' forecast range of 5.9 percent to 6.7 percent for the month, while year-to-date inflation picked up to 4.9 percent, the PSA report said.

"Recovery is uneven within countries and across countries, and this results in very inefficient supply chains. This is expected to be temporary as markets transition to find the new balance between supply and demand," National Economic and Development Authority Secretary Arsenio Balisacan said.