Diokno: Marcos admin to ensure inflation will be target-consistent over the medium term

FINANCE Secretary Benjamin Diokno emphasized that addressing inflation remains the top priority of the Marcos administration, as headline inflation for October 2022 rose to 7.7 percent from the previous month's 6.9 percent. The year-to-date average inflation stood at 5.4 percent.

"Addressing high inflation is the number one priority of the economic team. Although inflation is expected to remain elevated for the rest of the year with the impact of severe tropical storm Paeng on food supply and persistent global supply chain issues, the government will help ensure that inflation will be on a target-consistent path over the medium term with the implementation of direct measures to address supply shocks," said Secretary Diokno.