MANILA, (PIA) -- Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla is confident that inflation will continue to decrease in the country.

In the Philippine Economic briefing held in Washington D.C. in the United States, Medalla specifically pointed to the positive decrease in inflation from January to March of the current year where the price of basic commodities, especially onions, has decreased.

In fact, based on the BSP's forecast, it is possible that inflation in the Philippines will only hit two to four percent by the months of November and December.

The main reason for this is the increase in the production of agricultural products.

Medalla insisted that by the year 2024, the inflation rate in the country may only be placed at three percent.

Meanwhile, other international spectators also commented positively on the growth story of the Philippines and its resolution of the inflation issue. (PIA-NCR)