Live Breaking News & Updates on Uot He Added The Psa Reported That January 2023 Inflation Was Mainly Driven By Increases In Housing Rentals

File photo MANILA - President Ferdinand R. Marcos Jr. on Tuesday expressed optimism that the drop in the prices of fuel and imported agricultural products would help tame inflation. This, after the country's headline inflation rate in January 2023 ticked up to 8.7 percent from 8.1 percent in December 2022, according to the Philippine Statistics Authority (PSA) report. While Marcos viewed the latest development as "unfortunate," he remained bullish that the prices of commodities would go down, considering the sliding prices of petroleum products and his administration's efforts to boost the supply of agricultural products. "As of now, with fuel prices going down and the prices of [agricultural] products with the importation slowly also going down, I think that we will see the effects on the inflation rate further down the road. And I sincerely believe that this is going to be as high as it's going to get," he said. Marcos, however, acknowledged that the m ....

Ferdinandr Marcos Jr , Bangko Sentral , Arsenio Balisaan , International Monetary Fund , National Economic , Philippine Statistics Authority , Development Authority , Philippine Development Plan , Planning Secretary Arsenio Balisaan , Economic Outlook Update , File Photo Manila President Ferdinandr Marcos Jr On Tuesday Expressed Optimism That The Drop In Prices Of Fuel And Imported Agricultural Products Would Help Tame Inflation This , Fter The Country 39s Headline Inflation Rate In January 2023 Ticked Up To 8 7 Percent From 1 December 2022 , Ccording To The Philippine Statistics Authority Psa Report While Marcos Viewed Latest Development As Quot Unfortunate , Uot He Remained Bullish That The Prices Of Commodities Would Go Down , Onsidering The Sliding Prices Of Petroleum Products And His Administration 39s Efforts To Boost Supply Agricultural Quot As Now , Ith Fuel Prices Going Down And The Of Agricultural Products With Importation Slowly Also , I Think That We Will See The Effects On Inflation Rate Further Down Road Andi Sincerely Believe This Is Going To Be As High It 39s Get , Uot He Said Marcos , Cknowledged That The Measures Being Undertaken To Ease Inflation Quot Have Not Yet Done Through System He Added It May Take Some Time Bring Down Prices Of Basic Commodities We Already Taken So Supply Will Be Greater And But Takea Little , Uot Marcos Said , S He Noted That Agricultural Products Quot Have Beena Large Part Of The Inflation Rate And My Continuing Estimate Or Forecast Is By We Can See Lowering Second Quarter This Year , Uot He Added The Psa Reported That January 2023 Inflation Was Mainly Driven By Increases In Housing Rentals , Lectricity And Water Rates , S Well As In The Prices Of Vegetables , Ruits And Nuts Socioeconomic Planning Secretary Arsenio Balisaan Said The Marcos Administration Has Identified Measures To Keep Food Price Movements , Onsistent With The Government 39s Inflation And Food Security Objectives ,