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Manila Bulletin devider Philippines devider National devider Marcos aims to bring down inflation in Q1

Marcos aims to bring down inflation in Q1

Published Jan 24, 2023 12:05 pm

President Ferdinand "Bongbong" Marcos Jr. said he is losing sleep over the country's inflation rate, stressing that he is determined to bring it down.

President Ferdinand "Bongbong" Marcos Jr. (Noel Pabalete/ MANILA BULLETIN)

"This year talaga yun ang, yun ang... Iyan ang problema kong hindi – na hindi nagpapatulog sa akin eh, yung inflation eh. That’s what I lose sleep every night over is how to bring down inflation," Marcos said in an interview on Monday, Jan. 23.

"So I’m determined to make – to bring down – to make sure that the inflation starts to come down in the first quarter and mag-normalize na pagkatapos nun (it would normalize after that)," he added.

He recognized that although the government would import tons of onions in an attempt to address the insufficient local supply, it would take time before the prices of onions would go down.

"Siyempre hindi naman kasi basta’t magpasok ako ng ilang tonelada ng sibuyas, bukas bababa na yung presyo (Of course it does not mean that when I import tons of onion, the prices would go down immediately tomorrow). It has to go – dadaan pa sa sistema ‘yan (through the system). It takes a little while pero hindi naman ganoon katagal (but it won't be that long)," Marcos said.

An inflation rate of 8.1 percent was recorded in December 2022, which is .1 percent higher than the one recorded in November.

Marcos said the inflation rate in November is "out of control" and "running rampant" while the December inflation rate calls for an improved production of agricultural products in the country.

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