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The Marcos administration in the Philippines is taking steps to tackle inflation by utilizing satellite technology to address supply issues in rice production. The National Economic and Development Authority (Neda) is collaborating with the Philippine Rice Research Institute (PhilRice) to assess the potential of the Philippine Rice Information System (PRiSM) in providing insights to better manage inflation.

The government aims to bring down the average inflation rate to a range of 2 to 4 percent. However, the growth rate of prices for common household goods, especially food items, is projected to remain high at an average of 5.6 percent in 2023.

Currently, the Philippine Statistics Authority’s data is used to inform inflation policy-making. Neda Agriculture, Natural Resources, and Environment Staff OIC Assistant Director Rory Jay Dacumos revealed that they rely on this data to craft necessary measures.

By leveraging satellite technology, the Marcos administration hopes to address supply issues related to rice production. This technology aims to provide valuable insights through the PRiSM platform, enabling proactive measures to manage inflation effectively.

The use of satellite technology in agriculture has the potential to revolutionize the industry. By monitoring crop health, weather patterns, and water resources, it becomes easier to detect problems and provide timely interventions. This can help increase yields, improve food security, and ultimately stabilize prices.

The collaboration between Neda and PhilRice is an important step towards utilizing technology to address inflation. As the country aims for economic growth and stability, utilizing satellite technology can play a crucial role in achieving these goals.

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