Palace cites Duterte anti-inflation orders for dip in November

December 05, 2018
Salvador Panelo
Salvador Panelo

MALACAÑANG yesterday attributed the four-month low 6 percent inflation in November to the directives of President Rodrigo Duterte to cushion the effects of rising prices of goods.

Presidential Spokesperson Salvador Panelo said the Palace views the latest inflation rate “as good news.”

“We attribute this to the President’s empathy to public clamor and his decisive action in response thereto, which includes the issuance of Administrative Order No. 13 to streamline procedures on the importation of agricultural products, including rice, as well as Memorandum Order (MO) Nos. 26, 27, and 28 to stabilize the prices of agriculture and fishery products at reasonable levels and maintain their sufficient supply in our markets,” Panelo said in a statement.

“These measures address issues on food supply, among others, as there is a marked decrease in food inflation from 9.4% in October to 8% in November. Prices of rice, corn, fish, meat, fruits and vegetables have gone down,” he added.

The Palace official assured the public that the government will “continue to be vigilant and monitor the prices of basic goods and commodities to ensure that hunger incidence and food insecurity are eradicated.”