Malaca±ang: Malaca±ang welcomed the reported 0.9 percent inflation in July, the lowest in six years, describing the development as ‘magic’ amid global economic uncertainties. Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro made the statement Tuesday in a briefing with the Philippine media delegation in India, where President Ferdinand R. Marcos Jr. is currently on a five-day state visit.
According to Philippines News Agency, Castro expressed optimism about the country’s economic performance despite myriad global challenges, including the ongoing conflict in the Middle East, the war in Ukraine, and tariff concerns in the United States, which could have influenced inflation rates negatively. She emphasized that, despite these global issues, the Philippines has successfully managed to keep price increases under control.
Castro highlighted that the reported inflation dip could be largely attributed to lower rice and vegetable prices, providing a buffer against external economic pressures. She added that, barring any unforeseen external circumstances, this positive trend in inflation rates may continue, offering a glimmer of hope amidst uncertain times.
