Pampanga 3rd district Rep. Aurelio "Dong" Gonzales Jr. (left), Quezon 1st district Rep. Wilfrido Mark Enverga (Speaker’s office, MANILA BULLETIN)

Ranking congressmen have claimed that the worst is over this 2023 as far as the country’s inflation rate is concerned.

House Senior Deputy Speaker Pampanga 3rd district Rep. Aurelio "Dong" Gonzales Jr. and Committee on Agriculture and Food Chairman Quezon 1st district Rep. Wilfrido Mark Enverga echoed this positive outlook Thursday, Oct. 5 despite inflation racing to 6.1 percent last month from 5.3 percent in August.

“Consumer prices rose primarily due to increases in the prices of rice and oil products. The spike in fuel cost caused a domino effect on transportation and electricity, impacting all products,” Gonzales said in a statement.

“But the bold decision of President BBM (Bongbong Marcos) to impose a price limit on rice brought down the selling price of the staple last month, which meant that inflation should correspondingly go down,” he said.

Gonzales said he expects this to happen "in the days ahead".

For Enverga, inflation has already peaked in September, meaning there's nowhere else for the figures to go but down.

"We believe that inflation has peaked, and we expect it to be on a downward trend because of the forthcoming harvest season. As the earth yields its bounty, we anticipate a steady decline in inflation rates," Enverga said in a separate statement.

He emphasized the vital role that the harvest season historically plays in stabilizing prices and alleviating economic pressures on the public.

"As the harvest season approaches, we can anticipate stabilization and, eventually, a decrease in inflation rates. Our nation's agricultural sector is a cornerstone of our economy, and the bountiful harvests ahead will undoubtedly have a significant impact on curbing inflation," explained the Quezon solon.

Enverga also highlighted the decline in prices of essential agricultural products, including sugar, as a result of strategic reforms in the agricultural sector.

Moreover, Enverga lauded the President’s decisive actions in the agriculture sector, underscoring their importance in addressing deep-rooted problems that have persisted for decades due to neglect by past administrations.

"The President's commitment to revitalizing agriculture and rectifying past deficiencies is undeniable. By investing in infrastructure, technology, and sustainable farming practices, we are not only improving the livelihoods of our farmers but also fortifying the foundation of our economy," Enverga stressed.

According to the Philippine Statistics Authority (PSA), inflation in September 2023 rose to 6.1 percent, up from 5.3 percent in August. This brought the year-to-date inflation to 6.6 percent.

Marcos has maintained his post as Department of Agriculture (DA) secretary since his first day in Malacañang.

“President BBM is doing his best to fix the complex problems of the agriculture sector. And Congress has been helping him by passing the needed legislative measures like the law condoning the debt of more than one million farmers so they can produce more rice and other products," Gonzales said.

"But putting the house in order will take time. Let us be patient for the results,” he said.