Romualdez on inflation rate slide: 'Numbers don't lie'
At A Glance
- House Speaker Martin Romualdez's upbeat reaction to the continued drop in inflation rate, which slowed from 2.9 percent in January to 2.1 percent in February this year.
House Speaker Martin Romualdez (Speaker’s office)
Numbers don't lie.
This was House Speaker Martin Romualdez's upbeat reaction to the continued drop in inflation rate, which slowed from 2.9 percent in January to 2.1 percent in February this year.
"This is great news for every Filipino family," Romualdez, President Marcos' top ally in the legislature, said in a statement Wednesday afternoon, March 5.
"We know how tough the past few years have been, but the numbers don’t lie—inflation is going down, and our economy is getting stronger. This is the result of sound leadership, strong policies, and the resilience of the Filipino people," he said.
Romualdez says the figures prove that Marcos' economic team "is getting the job done".
"The Marcos administration has remained laser-focused on stabilizing prices, ensuring food security, and protecting the purchasing power of our people," said the Lakas-Christian Muslim Democrats (Lakas-CMD) president.
"We in the House of Representatives fully support these efforts by passing laws that make life easier for ordinary Filipinos—whether it’s lowering food costs, ensuring stable energy prices, or creating more jobs," Romualdez said.
The House leader reckoned that this was "just the beginning".
"We will continue working to make sure that this downward trend in inflation translates to more savings, better opportunities, and an improved quality of life for every Filipino," he further said.
Albay 2nd district Rep. Joey Salceda, chairman of the House Committee on Ways and Means, gave more context as to why the inflation slide was commendable.
"February inflation is great at 2.1 percent but the better news is that rice prices declined by almost 5 percent year-on-year," Salceda said.
"I take that as a sign that we can continue with our rate cuts and we can pursue a more aggressive expansionary stance on the fiscal side," noted the economist solon.
"At the same time, supply-affirming initiatives such as farm inputs and logistics improvements are critical. Our perennially volatile fruits and vegetable sector will also benefit from cold storage, which has been made a priority of the administration," he added.