Lawmakers show confidence that the rapid increase in the price of goods will subside in the upcoming months.
In a report by RH 12 Milky Rigonan, Congressman Joey Salceda, Chairman of the House Ways and Means Committee, said that the recorded 6.1% inflation rate from last month is the effect of high prices of petroleum products and rice.
Salceda also said that the inflation rate is expected to slow down this month due to the oil price rollback in the global market and the suspension of the rice price cap, which was implemented by President Ferdinand Marcos Jr.
Moreover, Congressman Mark Enverga, Chairman of the House Committee on Agriculture and Food, believes that the highest inflation rate has been reached in September and is expected to decline.

you might like

Lawmakers show confident for commodity price hike to subside