WANING pent-up demand, high domestic inflation and rising interest rates are among the key economic challenges that the Philippines faces this year, according to the National Economic and Development Authority .
However, Balisacan admitted that the careful balancing act of ensuring sufficient supply and a healthy demand for various products is difficult if there are many groups making opposing claims. The IAC, he explained, is tasked to monitor the drivers of inflation, collect data on supply and demand conditions, and submit reports and timely recommendations to the President to ensure that the government addresses food and energy constraints.
Earlier, local economists said high commodity prices may continue despite the slowdown in inflation in February 2023, according to local economists. This is the fourth consecutive month when inflation for the Bottom 30 percent of households was above 9 percent.
Source: Loan Digest (loandigest.net)
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