Laban Konsyumer lauds easing of March inflation

It was an upward spike in the prices of the same food basket items that reportedly caused a significant inflation uptick in 2018. (Pixabay photo)

MANILA — Laban Konsumer, an organization advancing local consumers’ rights, expressed satisfaction over the continued decline of inflation in the country, which fell to a 15-month low of 3.3 percent last March.

In a statement over the weekend, Laban Konsyumer chairman Victorio Dimagiba said his group “welcomes that inflation continues to fall within the 2 to 4 percent target for the year, including the reduction in inflation for the bottom 30 percent of households, from 5.9 percent to 5.0 percent in February.”

Our group shall continue its vigilance towards reasonable prices and transparency and full disclosure of information affecting consumer welfare and prices in selected goods and services like electricity, water, petroleum products and basic goods like rice, pork, chicken, and sugar, he added.”

Economists have attributed the gradual easing in price pressures to the recent “normalization” in the retail prices of several key food products. It was an upward spike in the prices of the same food basket items that reportedly caused a significant inflation uptick in 2018.