MANILA – Albay representative Joey Salceda on Wednesday warned that recent inflation may result in the increase in the number of poor Filipinos.
“Ang pinaka-worry namin dito, definitely sa inflation na ‘to, dadami po ang mahirap,” Salceda, an economic analyst, said in an interview on “Unang Balita.”
“Pangkahalatan, ‘pag tiningnan niyo po ‘yung inflation, ‘yung pagtaas ng presyo, ‘yung tinatawag naming inflation of the poor household, ‘yung lowest 30 percent, mas malaki po yung inangat,” he added.
The Philippine Statistics Authority (PSA) on Tuesday reported that the 5.7 percent inflation surge in July was the fastest in at least five years.
This rate was nearly twice as 2.4 percent in the same period last year, the seventh straight month that inflation accelerated since the 4.0 percent registered in January, and a sight higher than the 5.2 percent registered in June.
“Ang 5.7 na ‘to ay umaabot po ng mga halos, sasabihin na natin, umangat ‘to ng 6.8 percent ang inflation po nung konsumo ng mga mahihirap,” Salceda said.
Salceda said increased food prices, power and energy prices due to the Tax Reform for Acceleration and Inclusion (TRAIN) law and the impending trade war between US, Iran, and China, as well as the ailing Peso, accelerated the inflation.
“Yung TRAIN, lalong-lalo na po yung fuel, P2.50 lang ang dinagdag pero ang inangat dito sa loob ay P14. So sa’n galing po yung P11.50? Yung P11.50 po talaga yung away ni Trump at Iran at China,” he said.
“Yung pwedeng galawin natin… Para kagad maramdaman ng ordinaryong mamamayan, e ibaba po yung taripa sa food items,” he added. “Kahit wala po yung TRAIN, yung 5.7 na ‘yun, magiging 5.2 lang.”
Congress aims to decrease inflation to at least 4.0 percent by the end of the year.
“Maipanumbalik po sa four percent level by year end at pigilan na po ang pagratsada ng pag-akyat ng presyo, at mabigyan po ng relief ang ating consumers sa pagbaba po ng presyo at pagpapadami po ng supply ng basic commodity,” Salceda said.
The lawmaker had earlier noted that “political will” is needed to tax rich individuals more as the current “political economy” dictates that the poor will also have to pay more taxes if higher rates are imposed on rich individuals. (GMA News)
