HOUSE Speaker Ferdinand Martin G. Romualdez on Wednesday commended the administration of President Ferdinand R. Marcos Jr. for its successful effort in taming inflation down to 2.8% in January from 3.9% in December.
The inflation figure is also much lower than the 8.7% rate pegged for January 2023.
“It is reassuring that our inflation is within the bounds of the government’s forecast of 2 to 4 percent range. This is a relief to our people whose incomes have been chipped by rapidly rising prices of commodities,” the Speaker said.
Considered the slowest inflation rate since October 2020 registered at 2.3 percent, the Speaker pointed to the tireless work of the Marcos administration and Congress in introducing policies to stabilize the economy.
“But we are not out of the woods yet. We have to bolster our efforts to temper inflation and other disruptions in the value chain amid global economic headwinds and climate change,” he added.
The leader of the 300-plus strong House of Representatives said the chamber is “one with the government in upholding the economic rights of our people.”
“As part of the visible hand that regulates the market to protect our consumers, the House shall guarantee that laws echo the voice of the Filipinos in crafting laws to ensure that basic commodities and prices of products will be accessible and affordable for all,” he stressed.
Recently, Romualdez ordered a probe on the implementation of the law granting a 20 percent discount for senior citizens and persons with disabilities (PWDs).
The Speaker also launched the Cash and Rice Distribution (CARD) Program in partnership with the Department of Social Welfare and Development (DSWD) last year as a response to the call of President Marcos to provide rice and financial assistance to the poor through the country’s legislative districts.