Romualdez credits Marcos admin for lower March inflation

House Speaker Martin Romualdez has called the slower March inflation rate—a six-month low of 1.8%—a 'welcome development,' attributing it to government intervention measures like reducing tariffs on rice imports and setting maximum retail prices for food items.

Romualdez credits President Ferdinand R. Marcos Jr.'s administration for these measures, noting that they are helping to alleviate financial burdens on the Filipino people.

According to the Philippine Statistics Authority (PSA), inflation in March was 1.8%, down from February's rate of 2.1% and significantly lower than last year’s 3.7%. The easing of inflation is attributed to falling rice prices, with a 7.7 percent year-on-year decline.

Romualdez expressed hope for continued downward pressure on food prices but warned that the rainy season could increase costs. He also emphasized the legislative body's commitment to supporting executive efforts against inflation through oversight and legislation.

Albay 2nd District Rep. Joey Salceda, chair of the Ways and Means committee, welcomed the latest data, noting the decline in rice prices but warning about rising meat prices which jumped by 8.2 percent in March.