No. 1 sa Southeast Asia! Inflation has nearly quadrupled in Duterte’s first 2 years:
While the Duterte administration is busy shutting down its political rivals, Filipinos are in turmoil over rising prices of goods with the Philippines having the highest inflation rate in Southeast Asia.
August inflation jumped to 6.4 percent in August, its highest level since Speaker Gloria Macapagal Arroyo was still president in 2009.
President Rodrigo Duterte has declared that number crunching gives him headaches but this is not an excuse to let inflation go on a spiral under his nose. No wonder House leaders allied with Speaker Gloria Macapagal-Arroyo want Duterte to fire his economic management team.
Inflation has increased by 280 percent since Duterte took over in July 2016 when the former President Noy Aquino ended his term with a 1.7 percent inflation rate.
At 6.4 percent, the Philippines now has the highest inflation rate in Southeast Asia with Vietnam and Indonesia at the four to five percent range while Thailand, Myanmar, and Singapore below two percent.