Moderate inflation seen; Duterte blames US, Trump for rising prices

DAVAO CITY – The Economic Development Cluster (EDC) of the Duterte Cabinet expects “moderate” inflation in the months ahead following the implementation of a slew of measures to help tame the rise in commodity prices.

But while the EDC expects inflation to taper off, President

Duterte blamed United States President Donald Trump for the high prices of goods in the Philippines.

“Inflation is… ah... dahil 'yan kay(due to) Trump. When Trump raised the tariff against... and banned all their items, nagkaloko-loko ang (it messed things up)...”Duterte said Friday afternoon (Jordan time).

In his speech during his meeting with the members of the Filipino community in Jordan, Duterte said he will defer to his economic managers to take care of the situation as he admitted to not being an expert in economics.

“I'm no better than the rest of the... mas bright 'yan sila (They're brighter than I am),” he said.

One of the measures eyed by the EDC to address rising inflation include streamlining import procedures for rice, fish, and sugar to boost supply in the domestic market.

The EDC, chaired by Finance Secretary Carlos Dominguez III, said inflation is expected to decelerate once these measures are in place.

With rice, fish, vegetables, and meat among the highest contributors to the August inflation rate of 6.4 percent, Dominguez said “reforms in agriculture will continuously be implemented to address the supply issues causing the rise in food prices.”

“A committed effort from government in the agriculture sector to boost supply of key products and introduce policy reforms will bring down prices for all Filipino families,” Dominguez said.

In a statement, the Department of Finance (DOF) said among the measure to improve rice supply is the provision of 2.7 million sacks to Zamboanga, Basilan, Sulu,and Tawi-Tawi, following a reported shortage and increase in prices in the areas.

The government will also release 4.6 million sacks of rice now available in warehouses of the National Food Authority (NFA) to the marketsaround the country.

The NFA also expects the arrival of two million sacks of imported rice earlier committed in previous contracts.

The NFA Council has also authorized the importation of five million sacks of rice that are expected to arrive over the next one-anda-half months and another five million sacks to be imported early next year, the DOF said.

The government is looking forward to the effects of harvest, which is beginning in various parts of the country.

Projected harvest for 2018 is estimated to be around 252 million sacks, or roughly 12.6 million metric tons. US started it – Duterte

Meanwhile, in his arrival speech in Davao City Saturday morning, Duterte said there was no administration that did not go through high inflation rate.

“Inflation, yes.Bakit?Sinong nagumpisa?Amerika. Noong tinaas ng rice ng Amerika, taasan lahat. Ganun ‘yan. Wala tayong magawa diyan (Why? Who started it? It was America. When they increased the price of rice, everything went along. That's what happened. There's nothing we can do),” he said.

“It’s the economy – because America was – Trump wanted it. Pati ‘yungmga taxes na (Even the taxes) – excise tax, taasan lahat pati (everything increased even the) imported goods. Kaya ganyan ang nangyari (That's why this is happening),” he added.

“So I will admit that there is inflation. Sino ba'ng Presidente na hindi niya–nakatikim ng inflation (Which president did not experience this)?” he continued. Curb spending – Robredo

For Vice President Leni Robredo’s part, she urged Filipinos to curb their spending habits, save up, and find more ways to earn money amid the rising prices of basic commodities and high inflation rate.

Robredo attended the “AngatBuhay” turnover of medical equipment at the Our Lady of Lourdes Infirmary in Barangay Carolina, Naga City.

“Ngayon kasing matataas iyong presyo lahat, kailangan talagang mag-save tayo. Huwag gagastos nang hindi naman kailangan (Now that the prices of almost all [commodities] are high, we really need to save up. Don’t spend unless needed),” Robredo said when asked how the public can survive while the government is still finding ways to address the high inflation rate at 6.4 percent in August.

Robredo also advised the public to find other means to earn money. “Maghanap talaga ng ibang paraan para maghanap-buhay (Look for more sources of livelihood),” she said. For instance, she urged those who have means and resources to plant fruits and vegetables. “Iyong pagtatanim, malaking bagay iyong pagtatanim (Planting is a big a help),” she added, citing that in Zamboanga, some people are able to eat because of the vegetables and fruits they have planted and harvested on their own. (With a report from Ina H. Malipot)