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Duterte admits helplessness in containing surging inflation: Dito na lang ako mag-concentrate sa corruption!

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President Rodrigo Duterte has virtually raised the white flag in clamping down on the surge in oil and food prices under his watch.

“Wala man akong masabi but I assume for responsibility for the rising prices because I am here. I am the worker assigned here to answer for all of these things. Wala man rin akong magawa na every time there’s a rise of oil, everything also rises,” said Duterte in a speech before members of the Philippine Military Academy Alumni Associaition in Malacanang.

“Pero dito ako sir mag-concentrate sa corruption. I am doing it. For God’s sake, I am doing it,” he added.

Inflation has surged to its highest in nearly a decade as oil prices, higher government spending, higher taxes and government ineptitude on rice imports conspired jack up prices across the board.

Duterte had consistently admitted his inability to grasp economic problems except the most basic stuff.

“At ako naman I am trying to explain to everybody and you would notice it that every time there is an increase in oil, everything increases. That’s what about — inflation is all about,” said Duterte.

He recently declared that the economy was in the doldrums and he was glad that former President Gloria Macapagal-Arroyo was there to guide him in an indirect swipe against his boyhood buddy, Finance Secretary Carlos Dominguez, and the rest of the economic team.