Malacañang on Tuesday welcomed the steady decline in the country’s inflation rate over the past six months, describing it as a “magical” feat given global economic pressures.

Speaking to Filipino reporters covering President Marcos’ state visit to India, Communications Undersecretary Claire Castro said the administration sees the 0.9 percent average inflation as a result of collective efforts to stabilize prices, particularly of rice and vegetables.

“Maganda pong ulat 'yan… parang nagkaroon ng magic (That’s good news… it’s like magic),” Castro said on Tuesday, Aug. 5, noting that such low inflation was achieved despite external factors like conflicts in Israel and Ukraine, as well as tariff decisions by the United States.

According to Castro, the Marcos administration has been working to bring prices down amid global supply chain disruptions and rising costs of imports. She said the downward inflation trend reflects those efforts.

The Palace official also attributed the inflation slide to lower food prices, particularly in rice and vegetables—two staples that have seen government intervention in recent months.

With this, she asked the public to cooperate with the government to sustain the economic gains.

“So, magtulungan po tayo. 'Yan ang nais po ng Pangulo, lahat po tayo'y magtulungan para po mas gumanda pa rin po ang magiging ekonomiya ng ating bansa (So let’s help each other. That’s what the President wants, for all of us to work together so that our economy can improve further),” Castro added.

Rice prices have been a focal point of Marcos’ policies, with recent actions such as a 60-day suspension of importation starting Sept. 1 and continued expansion of Kadiwa rolling stores to support affordability.

Asked if the government is confident of meeting the 2025 target of two percent to four percent inflation, Castro said the outlook remains optimistic as long as no major global disruptions occur.

“Kapag wala pang mga external conditions or circumstances na makaka-apekto dito, maaaring magtuloy-tuloy po ang magandang balita na 'yan (If there are no external conditions or circumstances that could affect it, this good news could continue),” she said.

The Bangko Sentral ng Pilipinas had earlier forecast a manageable inflation range for next year, citing easing food and energy prices, though analysts caution that geopolitical risks could still cause price spikes.

Meanwhile, Castro said President Marcos has been using his foreign trips, including this ongoing India visit, to brief business groups about the country’s economic gains.

“Sabi nga po at dinig ko sa ibang mga business clubs, ay magandang balita po ito (As I’ve heard in some business clubs, this is really good news),” she said.

President Marcos is on a five-day State Visit to India, where he is pushing for deeper trade and investment ties while also engaging with Indian executives and overseas Filipinos.