MANILA, (PIA) -- The Presidential Communications Office (PCO) has announced that the inflation rate slightly dropped to 8.6 percent in the month of February, based on the data from the Philippine Statistics Authority (PSA).

The 8.6 percent inflation rate in February 2023 is slightly lower compared to 8.7 percent experienced in January 2023, according to PCO Secretary Cheloy Garafil.

Garafil said this is also caused by a slight decrease in the price of food and petroleum products.

The government's programs and initiatives are continuing to be implemented to address inflation or the increase in the price of products and services, she added. (PIA-NCR)