President Ferdinand 'Bongbong' Marcos Jr. has ordered the creation of the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) to address inflation and enhance initiatives to further improve the economy, Malacañang said over the weekend.
The Presidential Communications Office said that Executive Order No. 28, signed by the President on May 26, mandates that the IAC-EMO shall serve as an advisory body to the Economic Development Group in the crafting and implementation of measures that would keep inflation, particularly of food and energy, within the government's targets.
The advisory body will monitor the main drivers of inflation, particularly food and energy, and their proximate sources and causes; assess the supply-demand situation for essential food commodities during the cropping period, allowing periodic updating as new information becomes available; assess the possible impact of natural and man-made shocks on the supply of key food commodities; and regularly monitor data necessary to assess food prices and the supply and demand situation.
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