Palace sees gov't measures helped keep inflation at 6.7% in October
Malacanang expressed belief on Tuesday the measures being implemented by the government have helped to attain 6.7 percent inflation in October, unchanged from the previous month.
In a press briefing, Presidential Spokesperson Salvador Panelo said the administration would continue to implement those measures, such as allowing importation of fish for wet markets, importation of government-subsidized rice, and fuel assistance to public transport.
"Well, apparently, the measure undertaken by the government has affected the inflation rates. So we will maintain that," he said.
"Well, the fact that it did not go up should be a good news," he added when asked if the 6.7 percent inflation in October similar to September was a good news.
Year-to-date, inflation has averaged at 5.1 percent, near the government's high end revised projection of 4.8-5.2 percent.
Meanwhile, Panelo said it would be up to the Land Transportation Franchising and Regulatory Board to study the call of a commuters' group to defer the P1-fare jeepney increase, which became effective on November 2.
"Well, our suggestion at that time was for them to go to LTFRB and ask that agency to reconsider. I don’t know if they have done that. But they should if they really feel that the increase in fare is too much for them," he said.
The commuters' group has urged President Rodrigo Duterte to intervene, by asking the LTFRB not to push with the fare hike considering the lowering of prices of oil in the world market. Celerina Monte/DMS