Government should cushion impact of inflation – Benitez
Monday, July 9, 2018
BY CARLA P. GOMEZ
International factors caused the Philippines’ 5.2 percent inflation surge and it looks like there is no end in sight, it could get worse, Rep. Alfredo Abelardo Benitez (Neg. Occ., 3rd District) said Saturday.
The oil-producing countries are producing less and the peso is losing ground because there is more demand for the dollar, Benitez said.
The peso is being converted to dollars, causing its devaluation, he pointed out.
“All of those factors are contributing to inflation and with no end in sight, the government should find ways to cushion the impact of inflation,” Benitez said.
The exchange rate could hit P55 to the dollar by the end of the year, and mitigating factors are needed, he added.
Bayan Muna Rep. Carlos Isagani Zarate said that the 5.2 percent inflation rate for June, as announced by the Philippine Statistics Authority is “sorely expected and is even bound to soar higher as long the regressive TRAIN law is implemented.”
“It may even reach 6 percent before the year ends and the price shocks then would be more shocking,” he added.*CPG
@senso for A BETTER BACOLOD
Ang isa sa akon mga handom para sa Bacolod.
Ako ang kapitan sg sini nga barko. Indi ini magkadto sa wala ukon sa tuo, kundi derecho sa direksyon sang pagbag-o sang gobyerno para sa kaayuhan sang Bacolodnon.
