Trade Secretary Alfredo Pascual
In a statement from the Presidential Communications Office, Pascual noted that while the increase in the inflation rate requires attention, it should also be taken in a broader context.
“While the uptick in inflation rate requires our attention, it is crucial to understand it within the broader context of our dynamic global and domestic economic environments,” he said.
“Underpinned by robust fiscal and monetary policies, we are well-prepared to navigate through these inflationary pressures. We remain steadfast in our balanced approach to economic management — sustaining economic growth while ensuring price stability,” Pascual added.
According to the PSA, last month’s inflation rate slightly went up from 2.8 percent in January.
The National Economic and Development Authority, in a separate statement, attributed the increase in inflation rate to faster food price increases, which were pushed further mainly by faster rice inflation.