Sunday, September 07, 2008 Gov't braces for continued double-digit inflation
AFTER experiencing a record-high 12.5-percent inflation rate last month, Filipinos may have to cope with double-digit inflation until the end of 2008, Malacañang said.
Deputy presidential spokesman Anthony Golez Jr. said such double-digit inflation towards the end of the year should be "very much expected."
"First of all, the rise in inflation is very much expected. I read in an international newspaper that more than half of governments in the world will experience double-digit inflation and we are no exception," he said.
He said what is important now is that the government is implementing its pro-poor programs especially on the low-income brackets,
Golez particularly cited the National Food Authority (NFA)'s purchase of rice from farmers, which he said averages 25,000 bags a day.
The NFA then sells the rice at subsidized prices of P18.25/kilo, he said. (JMR/Sunnex)
