Amid the improving inflation rate, Malacañang assured that it will continue to implement measures aimed at mitigating the impact of rising prices through the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT).
The country's inflation rate slowed to 6.8 percent in May 2026 from 7.2 percent in April.
“UPLIFT provides targeted assistance to sectors affected by inflation and complements government efforts to stabilize the supply and prices of essential commodities,” the Presidential Communications Office said in a statement.
The Palace stressed that the UPLIFT framework was established through Executive Order No. 110, signed last March, as part of the government's response to rising global oil prices, fuel supply disruptions, and their effects on the domestic economy.
Meanwhile, Department of Economy, Planning, and Development Secretary Arsenio Balisacan said the timely and targeted government interventions continue as the Philippines’ inflation rate slowed down in May, relieving some of the upward pressure caused by elevated global oil prices.
He said the moderation in inflation was driven by a slower increase in transport costs to 16.2 percent in May from 21.4 percent in April.
This was due to slower price increases in diesel (58.5% from 122.7%) and gasoline (51.6% from 59.6%).
The tame inflation also contributed to the overall decrease in non-food inflation to 7.4 percent from 8.2 percent. In contrast, electricity inflation rose to 8.9 percent from 8.3 percent, driven by higher generation charges, tighter grid supply, and peso depreciation, which outweighed the effects of fee suspensions, refund acceleration, and VAT exemptions under the Philippine Natural Gas Industry Development Act, Balisacan said.
“While global oil prices remain elevated, transport inflation has begun to slow down. The government’s timely and targeted interventions help mitigate the impact of external shocks on Filipino households. This underscores the importance of maintaining responsive and coordinated policies that protect consumers while safeguarding economic stability,” he added.
Government measures to stabilize transport costs—including fuel assistance for public utility vehicle operators and drivers, as well as efforts to ensure an adequate fuel supply—eased the impact of higher fuel prices on commuters, transport workers, and businesses.
