Aileen CerrudoUNTV News
Malacañang welcomes the downward movement of the country’s inflation rate and attributes it to President Rodrigo Duterte’s competence.
The Palace has lauded the 3% inflation rate last April 2019 which is the lowest rate recorded by the Philippine Statistics Authority since January 2018.
According to Presidential Spokesperson Salvador Panelo, the low inflation rate is due to the president’s political will and his competence in managing the country’s economy.
“The current disinflation proves PRRD’s competence in managing our country’s economy while it disproves those who criticize him for over-focusing on our nation’s peace and order situation.”
“We give credit to the President’s strong political will and decisive action in addressing this national issue. We are confident that inflation would continue to ease by the end of the year especially now that President Rodrigo Roa Duterte has already signed Republic Act No. 11203,” he said.
The administration is also confident that commodity prices will continue to decline before the end of 2019.
“The Government, through the President’s economic managers, has been constantly monitoring the prices of basic goods and commodities and will not relax its efforts but will press ahead with programs designed to assist each and every Filipino with their expenses,” according to Panelo.—(with reports from Rosalie Coz)