(Eagle News)–The uptick in the inflation rate in December 2019 is well within the government’s target, the Palace said on Tuesday, Jan. 7.
In a statement, Presidential Spokesperson Salvador Panelo said the 2.5 percent, while an increase from November 2019’s 1.3% was well within the target range of 2% to 4%.
According to Panelo, based on the National Economic and Development Authority, the December 2019 inflation rate was due to an increase in the prices of both food and non-food items as a result of the impact of typhoons and rising oil prices that month.
“Our economic managers continue to keep a tight watch over inflation, amid emerging global threats,” Panelo said.
