That’s an average of 4.8 percent year to date, which is above the inflation target band of 2−4 percent. The medium-term challenge is the infrastructure program, particularly foreign investment which supports investment growth — and which has taken off dramatically in the Duterte era. The effort to curb inflation must remain elevated, however, because inflation may remain a challenge in the foreseeable future. That’s why they stand behind its economic program and the war against drugs and corruption. They want the economic future that has eluded them far too long.

Source: Manila Times September 30, 2018 16:41 UTC