Palace vows to address rising prices | Inquirer News
Taming inflation

Palace vows to address rising prices

Vegetables and other goods in a market. STORY: Palace vows to address rising prices

In this file photo, vegetable vendors arrange fresh produce in Commonwealth Market in Quezon City. (File photo  GRIG C. MONTEGRANDE  / Philippine Daily Inquirer)

MANILA, Philippines — The government will “work twice as hard” to address the rising prices of commodities after the Philippine Statistics Authority reported a 4-percent inflation rate in March, up from 3 percent in February.

“Our economic managers continue to keep a tight watch over inflation … They attribute this upward trend in transport, gas, other fuels among others,” Presidential Communications Secretary Martin Andanar, acting presidential spokesperson, said in a statement.

Article continues after this advertisement

“Having said this, we will not relax in our efforts and will work twice as hard to address the national issue of higher prices,” he added.

FEATURED STORIES

The Bangko Sentral ng Pilipinas’ inflation forecast for March was 3.7 percent with a range of 3.3 to 4.1 percent.

The country last recorded an 4-percent inflation rate in October 2021.

Article continues after this advertisement

House ways and means panel chair and Albay Rep. Joey Salceda, however, said that March inflation rate of four percent was “not as bad as feared” as it was still within the target range.

Article continues after this advertisement

“The rate turned out to be still within the target range. It’s at the cusp of breaking the target range, so it should definitely be treated as a trigger for more government action to provide relief,” he said in a statement.

Article continues after this advertisement

With the higher inflation rate in March, the government should expedite the distribution of aid, especially targeted cash subsidies for the transport and agriculture sectors and poor Filipinos, he said.

RELATED STORIES

Article continues after this advertisement

Neda offers fix for rising prices: No wage, fare hike but fewer work days

No oil supply problem in PH, but rising prices prompt call for deregulation review

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Lawmaker warns of rising prices of food, goods

TAGS: Inflation, rising prices, Rodrigo Duterte

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.