President Ferdinand “Bongbong” Marcos Jr. vowed to continue his administration’s drive to sustain the improvements reflected in the recent inflation rate data. President Ferdinand Marcos Jr. presides over a Cabinet meeting in Malacañang. (Photo from Presidential Communications Office) In a Twitter post on Wednesday night, March 5, the President reported about the inflation data that showed a decrease to 7.6 percent in March from 8.6 percent in February. “Unti-unti nang umiigi ang inflation rate sa bansa sa pagbaba nito sa 7.6 percent para sa buwan ng Marso mula sa 8.6 percent noong Pebrero (The inflation rate in the country is slowly improving by going down to 7.6 percent for the month of March from 8.6 percent in February),” he wrote. “Patuloy lamang ang mga inisyatibo ng pamahalaan para sa pagbangon ng ating ekonomiya at nang kalidad ng buhay ng bawat pamilyang Pilipino (The government’s initiatives to improve the economy and the quality of life of every Filipino family will continue),” the President added. The Philippine Statistics Authority (PSA) reported the slight decrease in inflation rate from Feb. to March. January’s inflation rate was at 8.7 percent but this slowed down also in Feb. to 8.6 percent. March’s slower inflation was primarily due to slower price increases in food and non-alcoholic beverages (9.3 percent from 10.8 percent); transport (5.3 percent from 9 percent); and housing, water, electricity, gas, and other fuels (7.6 percent from 8.6 percent). However, core inflation, which excludes volatile items like food and energy, increased to 8 percent in March from 7.8 percent in Feb. Though the inflation rate has slowed down for March 2023, this is a far cry from the government’s economic team aim to push it down to a lower range from two percent to four percent.