Duterte's political will to be credited for further inflation decline - Palace
President Rodrigo Duterte's strong political will and decisive action should be credited for the continuous easing of inflation, which slowed down to three percent in April, Malacanang said on Tuesday.
In a statement, Presidential Spokesperson Salvador said the Palace is "happy" that inflation went down to 3 percent in April, the lowest rate posted since January 2018 according to the Philippine Statistics Authority.
"This, notwithstanding that the El Nino phenomenon is an area of concern, where food production gets affected and may jack up prices," he said.
"We give credit to the President's strong political will and decisive action in addressing this national issue," he said.
Panelo said the Palace is confident that inflation would continue to decline by the end of the year, especially with the signing of Republic Act No. 11203 or the Rice Liberalization Law.
"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," he said.
The spokesman said the government, through the 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 designated to assist each and every Filipinos with their expenses." Celerina Monte/DMS