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Lower inflation rates contradict prices of basic goods—Bayan Muna

/ 12:39 PM July 05, 2019

MANILA, Philippines – Despite the government’s declaration that the inflation rate for June has eased to 2.7 percent, party-list group Bayan Muna has insisted that Filipinos are still bearing the brunt of high prices of basic goods.

Bayan Muna Rep. Carlos Zarate said in a statement on Friday that the low inflation rates are a welcome development… only if prices also went down.

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“Magandang balita lang yan kung nagbabaan na din sana ang mga presyo ng bilihin dulot ng mataas na inflation ng mga nakaraang mga buwan. Pero sa realidad, hindi bumaba ang mga presyo ng maraming batayang bilihin,” Zarate said.

“Nagtataasan pa din ang mga ito tulad ng gatas, kape atbp. Sobra pa din ang taas ng presyo ng petrolyo at ayaw pang ipakita sa mamamayan ang tunay na ‘unbundled oil prices,’” he added.

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According to Bayan Muna Rep. Ferdinand Gaite, the high prices of commodities are the reason why they filed bills proposing higher minimum wages and hikes in the minimum salaries of government employees.

“It is this reality that compelled us to immediately file the bills for the P750 national minimun wage (House Bill 246) and the P16,000 basic minimum salary for government employees (House Bill 247) on the opening of the 18th Congress,” he explained.

“Ang kailangan po ng mga manggagawa ngayon ay dagdag na sahod para makaagapay man lang sa taas ng presyo ng bilihin.  Wala pong kabuluhan sa kanila sa ngayon ang sinsasabing pagbaba ng inflation,” he added.

READ: Inflation eases to 22-month low of 2.7% in June 

Earlier, the Philippine Statistics Authority (PSA) released data on the inflation rate, which is attributed to “base effects, free tuition at state universities and colleges (SUCs), and lower rice prices.”

READ: BSP sees June inflation rate at 2.2 – 3% 

However, Zarate believes that the inflation figures are only being used by the government to fool the public into thinking that people’s lives are becoming better.

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“While Malacanang will again hype this up, they forget to mention that the national government’s outstanding debt for May this year amounted to P7.915 trillion, increasing by 15.8% from the P6.832 trillion recorded in the same month last year,” he explained.

“A staggering debt that will burden Filipinos for decades to come. Even those who are not born yet are already neck deep in debt,” he added. (Editor: Jonathan P. Vicente)

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TAGS: Basic goods, Bayan Muna, inflation rates, Local news, Philippine news update, Zarate
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