Tuesday, November 13, 2018
Close  
  • share this

Palace says steady inflation rate in October is ‘good news’

/ 03:31 PM November 06, 2018

“The fact that it did not go up should be a good news,” Presidential Spokesperson Salvador Panelo said on Tuesday after it was reported that inflation in October stayed at 6.7 percent.

ADVERTISEMENT

Panelo stressed that the October inflation reflects the government’s efforts to tame the soaring prices of commodities.

“Considering the directives of the President, supplying us with food and other measures undertaken by the Department of Finance, as well as agriculture and trade, I think that contributes (in taming inflation),” Panelo said in a Palace briefing.

FEATURED STORIES

President Duterte recently issued orders aimed at easing importation of food products to boost supply and bring down prices.

Although the rate of increase in prices was the same as last September, National Statistician Lisa Grace S. Bersales said “there seems to be a slowing in (the) increase of prices” since the month-on-month increase in prices of basic commodities further eased to 0.3 percent last month from September’s 0.8 percent. /ee

READ: October inflation up 6.7%, still over 9-year high, but price pressures easing

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Inflation, news, Philippines
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.