MANILA – President Rodrigo Duterte on Saturday reiterated that the United States is to blame for the country’s quickening inflation, which recently reached a near decade high.
“When America raised the interest, lahat ‘yan nagtaasan,” Duterte said during a press conference upon arrival from his trips to Jordan and Israel Saturday.
Duterte had said the same in meeting the Filipino community in Jordan on Friday, pointing to US President Donald Trump’s imposition of higher tariffs.
Inflation hit 6.4 percent in August, smashing the 5.9-percent rate predicted by the Department of Finance and polls from Bloomberg and Reuters. Bangko Sentral ng Pilipinas Governor Nestor Espenilla said it was his “expectation” that it would not breach 6 percent.
Inflation stayed at its fastest in nearly 10 years and moved closer to 6.6 percent last recorded in March 2009.
“This started when America – panahon ni [Donald] Trump – nag constrict. Talaga ang taxes nila kinukubra nila then they raised interest, sabay tayong lahat,” he said.
Consumers are feeling the pinch of inflation as food prices have soared.
Rice, the main driver of food prices, saw inflation of 7.1 percent in August. Vegetable prices rose 19.2 percent, corn by 12.6 percent, fish by 12.4 percent, meat by 7.6 percent and fruits by 6.2 percent.
The government, according to House Speaker Gloria Macapagal-Arroyo, is taking measures to address rising prices.
“Wala namang administrasyong [di] dumaan sa inflation, lahat dumaan,” said Duterte.
During her term as president, Arroyo said inflation spiked to 6.6 percent in March 2009. (ABS-CBN News)
