MANILA, Philippines — Malacañang is “pleased” with the 2.7 percent inflation rate in the country as it touted the measures the administration has implemented to tame the soaring prices of goods. “We are very pleased with the inflation rate because we have slayed the soaring inflation rate. It’s now a thing of the past,” Presidential Spokesperson Salvador Panelo told reporters in Malacañang. Despite being blamed for the high prices of goods, the Tax Reform for Acceleration and Inclusion (TRAIN) law should be credited for easing inflation, according to Panelo. The Philippine Statistics Authority (PSA) announced Friday that last month’s headline inflation rate was the lowest since the 2.6 percent posted in August 2017.

Source: Philippine Daily Inquirer July 05, 2019 09:56 UTC