“Digitalization is one of the huge changes that will have an effect in lowering inflation in the long run,” Mr. Diokno said at an online engagement with the Tuesday Club.
The BSP said technological advancements could help make prices lower and stable in the long term, aside from monetary and“By making payments and transactions more convenient, digitalization reduces the costs of production and distribution for businesses,” it said. For the consumer, digitalization is expected to improve the ease of getting information on products and services.
“These forces encourage competition among enterprises to capture or maintain market share, which in turn helps keep consumer prices low and stable,” the BSP said.ation stood at 4.5% in 2021, above the 2-4% target of the central bank and faster than the 2.6% in 2020. Higher meat costs as well as the uptick in global oil prices caused faster increases in the past months.ation to ease to 3.4% and then to slow further to 3.2% in 2023.
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