President Ferdinand "Bongbong" Marcos Jr. has directed the continuation of support to the most vulnerable sectors through the distribution of cash transfers and fuel discounts to help cushion the impact of rising inflation, Malacañang said.

Office of the Press Secretary (OPS) officer-in-charge Undersecretary Cheloy Garafil said this would be part of the government's key response to rising inflation even as we continue to build on climate action and food security.

"We assure the public that the government continues to monitor inflation and all contributing factors and will explore all other measures to alleviate its impact on our people," she said.

Inflation has accelerated to 7.7 percent in October, and though higher by 0.8 percent from September's figure, this remains within the Bangko Sentral ng Pilipinas (BSP) 's forecast range of 7.1 to 7.9 percent.

As explained by the National Economic and Development Authority (NEDA), the spike in the prices of commodities was due to external pressures such as the Russia-Ukraine war and fiscal instability as an effect of the Covid-19 pandemic.

Domestic issues, such as the impact of recent typhoons, also contributed to the surge in prices.

According to Garafil, Marcos is committed to supporting Filipino farmers and other stakeholders in agriculture in post-disaster recovery while improving the value chain and investing in climate-smart technologies remain a priority in the medium and long term.

She added that the effective management of our water resources would be prioritized as part of the response to mitigate water-induced damages to lives, livelihood, and property.

Even early on, the President had stressed the need to establish the Department of Water Resources.

Meanwhile, President Marcos has also directed concerned agencies to invest in innovations and technologies to make communities and businesses resilient amid extreme weather challenges.