Malacañang was satisfied about the slowing down of inflation to 3% in April this year.
Presidential Spokesman Salvador Panelo noted that this is the lowest inflation rate posted since January 2018 according to the Philippine Statistics Authority (PSA), “notwithstanding that the El Nino phenomenon is an area of concern, where food production gets affected and may jack up prices.”
Panelo said, the slowing down of inflation was the result of Presidrnt Rodrigo Duterte’s strong political will and decisive action in addressing this national issue.
The Palace official expressed confidence that inflation would continue to ease by the end of the year especially that Duterte has already signed Republic Act No. 11203.
Panelo also taunted critics saying that “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.”
“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 added.
