Palace to continue watching prices despite inflation decline

January 4, 2019

Malacanang on Friday said they will continue to monitor prices of basic goods and commodities even after the inflation rate continues to ease.

"This is positive news given that the aforementioned figure is the lowest since June 2018, which had a (average) rate of 5.2 percent (in 2018)," Presidential spokesperson Salvador Panelo said in a statement.

Panelo said the President’s comprehension of the dynamics of Philippine economy and his corresponding actions of providing remedies to draw to a close the unease of the ordinary consumer led to this result.

"We look back on the Chief Executive's issuance of Administrative Order No. 13 which streamlined procedures on the importation of agricultural products such as rice, as well as Memorandum Order Nos. 26, 27, and 28 which helped stabilize the prices of agriculture and fishery products at reasonable levels and maintained their sufficient supply in our markets," he said.

  Panelo said the Duterte administration will not be complacent in "balancing the country's overall economic progress and alleviation of our people's distress to inflation." 

  "Filipinos can expect that we will remain vigilant as we continue to monitor the prices of basic goods and commodities, and implement measures to further ease the burden of our countrymen," he said. Ella Dionisio/DMS