Malacañang expressed elation to the Philippine Statistics Authority (PSA) report that inflation is at its slowest pace in over three years.
According to Communications Sec. Martin Andanar, despite the criticisms that Duterte administration receives, economic indicators show that the government is delivering results.
Inflation or the rate of increase in the prices of goods and services hit 0.9% last month, slower than the 1.7% recorded in August.
The National Economic Development Authority (NEDA) attributed the slow down in part to the success of the Rice Tariffication Law which has allowed consumers to enjoy lower prices of rice because of higher supply.
NEDA has assured to fast-track programs that will enhance farmers’ skill and boost their productivity.
“For our part, the PCOO will strengthen our information drive on the benefits of the law to consumers and farmers along with successfully communicating the President’s other landmark policies to the public,” Andanar said.