Inflation to ‘stabilize’ in near term, economic managers say

(Seated, L-R) Socioeconomic Planning Sec Ernesto Pernia,
Budget Sec Benjamin Diokno and Finance Sec Carlos Dominguez
huddle at a recent economic forum in Manila. The economic
team expects inflation to ‘stabilize’ after slowing in
November. Jonathan Cellona, ABS-CBN NeWs/File

MANILA – President Rodrigo Duterte’s economic managers said
Wednesday were optimistic inflation would “stabilize” in the
near term after price increases slowed for the first time this
year in November.

Inflation
eased to 6 percent
from 6.7 percent in September and
October. The economic team said this showed that price-taming
measures are working.

“We are optimistic that inflation will stabilize further in the
near term. But we will keep a vigilant eye on upward pressures
such as volatility in the global oil market,” they said in a
joint statement.

“It’s comforting for us that the slowdown will alleviate the
struggles of poor Filipinos, especially now that the holiday
season is just around the corner. This makes us even more
determined in curbing inflation and enforcing all measure to
guarantee food security,” they said.

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