SPEAKER Gloria Macapagal-Arroyo has expressed elation over the slowing down of inflation rate in April as she lauded the administration’s economic managers.
In an interview, Arroyo said the economic managers of President Rodrigo Duterte have implemented or tried several measures to ensure that cost of primary goods will be cheaper and affordable to the people.
“Congratulations to our economic managers. Hindi ba, marami naman silang mga ginawang mga measures to address the rise in price, well they’re working,” she said.
The Philippine Statistics Authority (PSA) announced that in April, the inflation rate had slowed down to 3 percent.
The PSA said the downtrend was due to slower increases in prices of food and non-alcoholic beverages at 3 percent.
Rice prices, for instance, decelerated to 0.02%. Rice is weighted the heaviest among food commodities.
According to Arroyo, when she was the President, her team was able to resolve inflation which went down to 1 percent.
She urged the current economic managers to focus on the agricultural sector because enough supply of food may lower prices.
Inflation in April was the lowest rate since January 2018, or a 16-month low.