STATEMENT OF SENATOR WIN GATCHALIAN ON THE FEB 2019 INFLATION RATE

For two consecutive months, the country pulled a better-than-expected inflation rate of 3.8 percent as food prices continue to stabilize while the peso continues to strengthen against the dollar. Our own estimates pegged inflation rate for February at around 4 percent.

The continuing downtrend of headline inflation is a welcome development as the Bangko Sentral ng Pilipinas under the leadership of newly-appointed Governor Ben Diokno will have more elbow room to make adjustments on the country's policy rates to spur economic growth. Currently, the country's benchmark rates have stayed at the 4.25-5.25 percent range.

We are hopeful that the downward trend of our inflation rate will continue in March, especially now that the Rice Tariffication is set to be implemented this month with the signing of the law's Implementing Rules and Regulations.