Palace not alarmed by slight increase of inflation rate

MANILA, Philippines — Malacañang on Tuesday said it is not alarmed by the increase of inflation rate to 2.5 percent in June.

In an online briefing, Presidential spokesperson Harry Roque said this was expected because of the lockdown measures imposed.

“Well napakababa pa rin po niyang two percent. Inaasahan po natin na kahit papano tumaas kasi nanggaling tayo sa complete lockdown,” Roque said.

(Two percent is still low. We expect that to increase since we came from a complete lockdown.)

“Mas mataas ang demand at siguro po limitado pa rin ang supply kaya medyo bahagyang umakyat po ang ating inflation rate. Pero hindi naman po nakakabahala yan dahil two percent po yan,” he added.

(The demand is higher but perhaps we have limited supply that’s why the inflation rate slightly increased. But this is not alarming since that is still two percent.)

Inflation went up to 2.5 percent in June, higher than the 2.1 percent in May, Philippine Statistics Authority said.

It was in June when the government eased restrictions by placing several areas, including Metro Manila, under general community quarantine where more industries and businesses were allowed to reopen at a limited capacity.

JE