Even the core [inflation] numbers are high. But what must be seen is [inflation] in relation to month-on-month (m-o-m) changes. Unless there are new shocks, we are already moving toward an inflation path of below 4.0 percent by October or November [2023]. A very pleasant morning to all of you.
I warmly welcome you here in Mactan, Cebu to the 23rd meeting of the RCGA [Regional Consultative Group for Asia]. Today's RCGA meeting comes at a very opportune time. Over the last three years, we have experienced shocks that are unprecedented in many respects. These have been trying times for financial authorities.