(Eagle News)–The Palace on Tuesday, Feb. 5, welcomed the decline in the inflation rate in January, attributing the same to the efforts of the administration.
“Last year, soaring prices caused by uncontrollable factors tested our will as a nation. Not disheartened nor cowed, we rose to the challenge as a people,” Presidential Spokesperson Salvador Panelo said.
According to Panelo, “with the President’s strong and decisive action, we remained focused and steadfast as we addressed the conditions that contributed significantly to inflation.”
“With inflation further tapering down to a 10-month low of 4.4 percent, this administration will oversee and ensure that its consequent effects at the market would be felt by the ordinary consumer,” he said.
He also gave the assurance the government would monitor market prices, as it addresses hunger and poverty in the country.
The 4.4 percent inflation rate is slower than the 5.1 percent registered last December 2018.
