Albay Rep. Joey Salceda recently claimed that the Philippines’ inflation rate is “still one of the lowest in the world,” saying this must be “a result of strategy” by the country’s economic managers. This needs context.
VERA Files Fact Check looked at the data and consulted economic experts. Find out more in this video:
Check out these sources
House of Representatives, Committee on Appropriations, Feb. 28, 2023
Dr. Ser Percival Peña-Reyes, Personal communication (interview), March 1, 2023
Nicholas Mapa, Personal communication (email), March 6, 2023
Ha, Jongrim, M. Ayhan Kose, and Franziska Ohnsorge, One-Stop Source: A Global Database of Inflation. Policy Research Working Paper 9737. World Bank, Washington DC
International Monetary Fund, World Economic Outlook (October 2022) – Inflation rate, average consumer prices, March 2, 2023
Philippine Statistics Authority, Press Conference on February 2023 Inflation Report, March, 7, 2023
Philippine Statistics Authority, Press Conference on January 2023 Inflation, Feb. 7, 2023
