President Ferdinand Marcos Jr. said he expects to see the country’s inflation rate going down and the 8.7 percent rate posted in January 2023 is “going to be as high as it’s going to get.” | DYGalvezINQ
“My continuing estimate or forecast is that we can see the lowering of the inflation rate by the second quarter of this year,” Marcos said in a video message.
“I sincerely believe that this is going to be as high as it’s going to get,” the President continued. National Statistician Dennis Mapa said the January headline print was the fastest since the 9.1 percent in November 2008.In December 2022, inflation was at 8.1 percent.For its part, the National Economic and Development Authority said the government has identified measures to keep food price movements consistent with the government’s inflation and food security objectives.
“As part of the administration’s 8-point agenda and the Philippine Development Plan 2023-2028, the government is implementing measures to ease price pressures and cushion the impact of inflation, especially on basic commodities,” Neda Secretary Arsenio Balisacan said in a statement.
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