The year-on-year rate of increase in the consumer price index (CPI) for all items less fresh food slowed temporarily in early spring 2018, but it has been accelerating again since summer, having risen to around 1 percent recently.
The unemployment rate dropped to 6.4 percent in February this year from a peak of 17.6 percent in April 2020. Moving on to the banking sector…. Banks remain the pillar of strength of our economy. As of February this year, the total resources of the banking system expanded by 7.0 percent year-on-year to 20.7 trillion pesos.