Bam Aquino, Hontiveros decry 9-year high 6.7% inflation rate

Senators Bam Aquino and Risa Hontiveros on Friday decried the 6.7 percent inflation rate, which is the highest in the country since 2009.

Aquino called for government action amid the continuing rise in inflation rate, as he also noted that there is now a rice crisis in the country.

“Hindi na makahinga ang mga Pilipino sa sobrang paghihigpit ng sinturon (Filipinos can’t breathe anymore in tightening their belts),” Aquino said in a statement.

He reiterated his call to suspend the excise tax on fuel as well as roll-back in its price, and to ensure that there is enough rice in the markets.

READ: Inflation hits new over 9-year high of 6.7% in September on elevated food prices

Aquino added that pointing at government officials would not help solve the country’s economic woes.

Hontiveros, meanwhile, urged President Rodrigo Duterte to solve the rising inflation rate instead of losing his mind in claiming there are destabilization plots against his administration.

“Harapin ni Pangulong Duterte and problema sa ekonomiya, partikular sa inflation, kaysa mahibang sa multo ng destabilization (President Duterte should face economic problems, particularly inflation, instead of losing his mind in the ghost of destabilization),” she said in a separate statement.

Hontiveros said that Duterte should stop claiming “phantom plots,” when the real problem is right in front of him.

“Every day President Duterte spends obsessing with fake destabilization plots and hunting his critics is a missed opportunity to fix the economy,” she said.

Like Aquino, Hontiveros also called on the government to suspend further taxes as mandated by the Tax Reform for Acceleration and Inclusion law until the inflation rate subsides.

she also said there should be a shift in rice policy, faster infrastructure programs to generate jobs, wage hike, cash transfer to poor families, and slashing the value added tax.  /muf