Reelectionist Senator Sonny Angara on Wednesday said that the decrease in inflation rate to 3.8 percent year-on-year in February, is a very good development for our people and for the country’s economy.
He noted that ease on inflation, the slowest rate of increase in prices of basic goods in a year, is within the target range of our economic managers.
Angara noted that the prices reflect both international developments and local efforts to manage inflation from our government.
“We should step up efforts as before to crack down on unscrupulous merchants engaging in profiteering, as well as continue support to our farmers and agricultural sector since food inflation is the most felt of all especially among the poor,” he added.
Senate President Vicente Sotto said it only means the Philippine economy is getting even better.
Senator JV Ejercito said the inflation rate is a welcome news. “Hope it would hold and stay below 4 percent the rest of the year.”