(Eagle News) — Speaker Gloria Macapagal-Arroyo on Wednesday, Sept. 5, said the government was “doing what it can” to address inflation in the country.
Arroyo, who is also an economist, made the statement following the Philippine Statistics Authority’s report inflation had accelerated to 6.4 percent in August.
“I’m sure the government is taking steps to address the situation. When I called them up today, they were meeting so I’m sure that they’re looking at it,” she said.
She said when she was president, in March of 2009, inflation was at 6.6 percent.
By June though, she said it had gone down to 1.5 percent.
“So, conceivably, even a sharp increase can be resolved,” she said, noting that the price increases brought about by the Tax Reform for Acceleration and Inclusion law were only a “very, very small portion” of the increase in inflation.
