Inflation eases, inclusive growth next – Palace; more millionaires listed

THE

government has lauded the continued drop in the country’s inflation rate, falling within its target. We’ll closely monitor basic commodities and check soaring prices, Malacañang assured.

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Newly appointed Bangko Sentral ng Pilipinas (BSP) Governor and former Budget Secretary Benjamin E. Diokno also said he will take on the challenge of leading the central bank in providing a fertile ground for inclusive growth.

“Inclusive growth and price stability” will get priority, he said.

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Presidential spokesman Salvador Panelo said “inflation continues to drop, as we predicted, with the February, 2019, figure showing its fourth month of deceleration at 3.8 percent.”

“The Palace welcomes this positive development as proof that the macroeconomic policies of the Duterte administration have been effective in addressing soaring prices,” he added.

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The Philippine Statistics Authority (PSA) had earlier announced the country’s inflation had slowed down to 3.8 percent in February, compared to the 4.4 percent recorded last January.

February’s inflation rate, the lowest since March, 2018, marked the return to the 2 to 4 percent government target.

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Malacañang expressed optimism that inflation would continue to ease.

“We expect further improvement and disinflation as we continue to remain vigilant in monitoring the prices of basic goods used by ordinary Filipino consumers,” Panelo said.

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The PSA explained that amid lower food and transportation prices, the headline inflation settled at 3.8 percent in February, lower than the 4.4 percent rate in the previous month.

Last month’s inflation brought the year-to-date headline rate at 4.1 percent, it added.

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The PSA said slower inflation in rice, corn, milk, cheese, eggs, vegetables, alcoholic beverages, and transportation contributed to the cooling of the headline rate.

Yes to lower prices and inflation rate.

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Newly appointed Bangko Sentral ng Pilipinas (BSP) Governor and former Budget Secretary Benjamin E. Diokno said he is ready to take on the challenge of leading the central bank in providing a fertile ground for inclusive growth.

“The role of BSP is to ensure steady sustained growth that is inclusive, in a regime of price stability,” he said. * * *

Appointed by Pres. Duterte at the last Cabinet meeting, to replace the late Governor Nestor A. Espenilla Jr. who passed away due to tongue cancer, Diokno said the BSP will sustain inclusive growth,“the same objectives of the Duterte administration.”

A strong bond between DU30 and the BSP augurs well for the economy.

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“I’m an economist by training so I have the appropriate academic background. My various high-level assignments have prepared me well for interfacing with heads of international and domestic financial institutions,” Diokno assured.

Diokno knows his job at BSP is no joke. Best wishes!

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The Bankers Association of the Philippines (BAP) said Diokno’s “reformist brand of leadership” is almost a reassurance that he will continue

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“A respected economist, academic, and civil servant…the BAP supports the new BSP governor as a new chapter of the BSP is about to unfold. The association will remain committed in its role as a partner of the national government in building a strong economy “

Yes to partnership and a strong economy.

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Meanwhile, Forbes’2019 issued its list of richest Filipinos, with Manny Villar emerging on top.

Villar is now Philippines’ richest, according to Forbes.

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In Forbes’ list are: Manny Villar, John Gokongwei, Enrique Razon, Lucio Tan, Tony Tan Caktiong and family, Ramon Ang, Andrew Tan, Hans Sy, Herbert Sy, Harley Sy, Henry Sy Jr., Teresita Sy Coson, Elizabeth Sy, Eduardo Cojuangco, Robert Coyiuto Jr., Ricardo Po Sr. and family, and Roberto Ongpin.

Yes to more Filipino millionaires who are willing to help others and promote national progress.