President Ferdinand Marcos Jr. delivers his speech in this file photo taken on January 29, 2024, before flying to Vietnam for an official visit. INQUIRER.net file photo / Ryan Legato
MANILA, Philippines — President Ferdinand Marcos Jr. on Tuesday said that the government remains committed to ease the burden of Filipinos.
Marcos welcomed the decline of inflation from 3.9 percent in December 2023 to 2.8 percent in January 2024.
READ: PH inflation slowed to 2.8% in January
“We are pleased to announce a significant slowdown on inflation for January 2024, reaching its lowest point since October 2022, at 2.8 percent,” Marcos said in a statement.
“We remain committed to easing the burden on our citizens, as evidenced by the recent electricity bill discounts for low-income households,” he added.
According to Marcos, the slowdown is due to the decline of food inflation, as well as government efforts to mitigate the El Niño phenomenon.
“Additionally, strategic partnerships with countries like Vietnam for rice supply to allow further imports of key food commodities are crucial steps towards ensuring sustain progress,” Marcos said.