Finance Secretary Benjamin Diokno said Wednesday that inflation may fall below two percent in the first quarter of 2024.

In the Kapihan sa Manila Bay forum, he said: “In the first quarter of next year the inflation rate may fall below two percent.”

Inflation has gone down for four months, from 8.7 percent in January to 6.1 percent in May.

But Diokno explained that a lower inflation rate means that ''the rate at which prices increase'' is not high as before.

Diokno said that oil prices are on a downtrend after a series of surges during the Russian-Ukraine war. Jaspearl Tan/DMS