The Philippine Statistics Authority (PSA) reported a decline in inflation from 8.6% in February to 7.6% in March, the lowest it has been since October 2022. This is a significant drop, with food contributing heavily to the decrease. This is relieving as everyday households have been affected the most by inflation. However, not all food prices have decreased, with rice prices set to rise by P5/kg this year according to the Department of Agriculture. The contribution of transportation inflation also went down, marking the first time since February 2021 that it went negative. This could be attributed to the COVID-19 pandemic. Utility prices like electricity saw a decrease, but rent continued to rise, and water's contribution to inflation increased for the third consecutive month. The inflation rate is still high, but this downward trend could be a sign of relief for Filipinos.