Government set to sustain manageable inflation

April 17, 2012 11:14 pm 

MANILA, April 17 — The Aquino government renewed its commitment to create a better economic environment in the country for the benefit of all, especially the poor.

Malacanang on Tuesday said ensuring a controllable inflation rate remains a top priority of the Aquino administration.

"Maintaining a manageable inflation environment remains a priority of the Aquino administration, and we are glad to see our efforts bearing fruit," said Presidential spokesman Edwin Lacierda in a statement.

The April 4 release of the Bangko Sentral ng Pilipinas states: "Year-on-year headline inflation continued to decelerate in March to 2.6 percent from 2.7 percent in February.”

These figures means that the country remains below the government’s target inflation range of 3 to 5 percent for 2012 and that the March rate is the lowest since September of 2009.

The February rate on the other hand is second to Malaysia's 2.2 inflation rate in the Southeast Asian region, said Lacierda.

The Philippines was also able to out-perform even the developed countries like Singapore which posted 4.6 percent, he said.

“The government nonetheless remains sensitive to public sentiment as regards inflation, and continues its efforts to ensure that global trends do not adversely affect our people, especially those in the margins,” he added.

The pursuit of inclusive growth will continue to be the cornerstone of the Aquino government’s economic agenda, Lacierda said, assuring the public that the administration will sustain its efforts so that no one is left behind as the country advance toward equitable progress. (PNA) lgi/PCOO/ssc

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