By Brian Jules Campued
President Ferdinand R. Marcos Jr. on Tuesday enjoined the public to work together as the government continues to address economic challenges to sustain the country’s growth amid continuous downtrend on inflation.
President Marcos welcomed the latest inflation report of the Philippine Statistics Authority which showed that the headline inflation further dipped to 2.8% in January 2024, down by 1.1 points from the 3.9% registered in December 2023.
“We are pleased to announce a significant slowdown on inflation for January 2024, reaching its lowest point since October 2020, at 2.8%,” Marcos said in a statement.
The slowdown, the President said, was driven by the 3.3% decline in food inflation and the government’s measures including the implementation of the National Adaptation Plan and the reactivation of Task Force El Niño.
“Our strategic partnerships with countries like Vietnam for rice supply to bridge supply gaps in key food commodities are crucial steps towards ensuring our progress,” he added.
The Chief Executive also reiterated his administration’s commitment to build a better future for Filipinos under his “Bagong Pilipinas” campaign, citing the recent discounts in electricity bills for low-income households. – avds