Clearly, falling commodity prices have been the key drivers behind the disinflation; however, some contribution has also come from slowing domestic demand. To be sure, consumer price inflation for the months of September and October did increase. This is possibly owing to the firm trend in food articles inflation and the higher weight of food articles in measures of consumer price inflation.
After all, the BSP’s financial inclusion mission started with microfinance, in the belief that the poor can contribute just as much, if not more, to the country’s growth and prosperity. In closing, we must do things with a greater sense of urgency and efficiency. We must aim higher and strive to reach out to more Filipinos.