Inflation rate up
DUE to various factors, including the continued Russia-Ukraine armed conflict, the country’s inflation rate accelerated to 7.7 percent last month, worrying the Filipino people.
A series of catastrophic weather disturbances, plus the deadly “Tropical Storm Paeng,” aggravated the situation not only in Luzon but also in the Visayas and Mindanao.
But a top government official was quick to point out that the inflation rate was still within the Bangko Sentral ng Pilipinas’ forecast range of 7.1 per cent to 7.9 percent for October.
Undersecretary Cheloy Garafil, officer-in-charge of the Office of the Press Secretary, made the statement after the Philippine Statistics Authority bared the October inflation rate.
Immediately, President Marcos also ordered the continued distribution of emergency subsidies to help the people cope with the impact of inflationary presssures.
Director-General Arsenio Balisacan of the National Economic and Development Authority (NEDA), on the other hand, supported the Ilocano Chief Executive’s order.
Balisacan said providing assistance to those who belong to the vulnerable sectors of society will alleviate the effects of the sustained increase in the prices of basic commodities.
Hopefully, the administration hits hard at local government and barangay authorities who use the emergency assistance (ayuda) program for political and other purposes.
President Marcos will have the support of the Filipino people, including the ordinary citizens across the country, in going after these unscrupulous local government officials.
