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Manila Bulletin devider Philippines devider National devider Romualdez hails Marcos for inflation dip; says PH 'not out of the woods yet' 

Romualdez hails Marcos for inflation dip; says PH 'not out of the woods yet' 

Published Feb 7, 2024 07:41 am

At A Glance

  • House Speaker Martin Romualdez is upbeat over the Philppines' improving inflation rate, but admits that the country is still "not out of the woods yet". 

IMG-1a66875fc02fb1479cb0095078861585-V.jpgHouse Speaker Martin Romualdez (left), President Ferdinand "Bongbong" Marcos Jr. (Speaker’s office)

 

 

 

 

 

 

 

 

House Speaker Martin Romualdez is upbeat over the Philppines' improving inflation rate, but admits that the country is still "not out of the woods yet". 

“It is reassuring that our inflation is within the bounds of the government’s forecast of 2 to 4 percent range. This is a relief to our people whose incomes have been chipped by rapidly rising prices of commodities,” the Speaker said in a statement Tuesday, Feb. 7. 

Romualdez commended the Marcos administration for its efforts in easing inflation rare from 3.9 percent in December 2023 to just 2.8 percent in January 2024. This is the slowest inflation since the 2.3 percent recorded in October 2023. 

“But we are not out of the woods yet. We have to bolster our efforts to temper inflation and other disruptions in the value chain amid global economic headwinds and climate change,” noted Romualdez. 

“As part of the visible hand that regulates the market to protect our consumers, the House shall guarantee that laws echo the voice of the Filipinos in crafting laws to ensure that basic commodities and prices of products will be accessible and affordable for all,” said the leader of the 300-plus strong chamber. 

Romualdez said the House is “one with the government in upholding the economic rights of our people". 

The Speaker also launched the Cash and Rice Distribution (CARD) Program in partnership with the Department of Social Welfare and Development (DSWD) last year as a response to the call of President Marcos to provide rice and financial assistance to the poor through the country’s legislative districts. 

Romualdez is arguably Marcos' top ally in Congress and the main shepherd of the Palace's legislative agenda.

 

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