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Palace welcomes continuing decline in PH inflation

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POLITIKO - The bible of Philippine Politics

By Prince Golez

Malacanang said on Friday it was “pleased” with the report that the country’s inflation rate eased further to 3.3% in March 2019.

Last month’s inflation was the lowest since January 2018, Presidential Spokesperson Salvador Panelo noted.

“The Administration’s resolve to cushion the impact of inflation has resulted in the downward path of inflation for five straight months,” said Panelo in a statement.

“We are confident that this slide would continue further for the rest of the year as President Rodrigo Roa Duterte’s signing of Republic Act No. 11203 last February is expected to further ease inflation. Our economic managers expect rice prices to go down and even cut inflation by 0.5 to 0.7 percentage point this year,” he added.

Panelo also said the government remains vigilant in monitoring price movements, saying the current El Niño may affect agricultural production

The Department of Agriculture, he added, has already distributed water pumps and shallow tube wells as part of its mitigation measures.

If necessary, Panelo said they are also ready to carry out cloud seeding operations in drought-stricken areas.

“The Palace calls on everyone to participate in water preservation not only in agriculture but also in our daily consumption to increase our resiliency against this extreme weather phenomenon,” he added.

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