New Delhi, Aug. 6 -- Malacanang welcomed the reported 0.9 percent inflation in July, the lowest in six years, describing the development as "magic" amid global economic uncertainties.

Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro made the statement Tuesday in a briefing with the Philippine media delegation in India, where President Ferdinand R. Marcos Jr. is currently on a five-day state visit.

"Maganda pong ulat 'yan (That's a welcome development)," Castro told reporters.

She cited various global challenges - such as the conflict in the Middle East, the ongoing war in Ukraine, and tariff concerns in the United States - that could have pushed inflation higher.

Despite these challenges, she s...