By Prince Golez
Malacanang on Tuesday hailed the decline in inflation rate last month, which further slowed down to 3 percent from 3.3 percent in March.
“The Palace is happy to learn about the slowing down of inflation to 3 percent in April of this year. This is the lowest inflation rate posted since January 2018 according to the Philippine Statistics Authority,” Presidential Spokesperson Salvador Panelo said in a statement.
Panelo noted that inflation in the Philippines continued to ease despite the El Niño phenomenon, which directly affects food production.
This success is attributed to President Rodrigo Duterte’s “political will” and “decisive action” in addressing this national issue, according to the chief presidential legal counsel.
“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,” said Panelo, referring to the law liberalizing the importation, exportation, and trading of rice.
The disinflation, he added, proves Duterte’s competence in managing the country’s economy while it disproves those who criticize him for concentrating on his anti-narcotics push.
“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,” Panelo said.