MALACANANG remains confident that inflation may see its end in the coming months despite averaging 6.2 percent in the third quarter of this year, according to Presidential spokesman Salvador Panelo.
This comes after the Bangko Sentral ng Pilipinas (BSP) reported that inflation’s 6.2 percent average in the third quarter of 2018 is higher compared to the 4.8 percent in the previous quarter, bringing the year-to-date average to five percent.
Panelo stressed that the government is “confident that a disinflationary trend, as per our economic managers, is about to begin and be felt by our countrymen this month.”
“We are fully aware of the impact of inflation in the third quarter of this year, which, according to our economic managers, is coming from supply-side pressures,” Panelo said in a statement.
Panelo added that President Rodrigo Duterte has ordered concerned members of his Cabinet “to ensure that there is food on every Filipino family’s table” and gave assurance to the public that the government continues to address rising prices of basic goods.