MANILA, Philippines – Inflation – or the increase in the prices of goods and services – has added at least 4.6 million Filipinos to the ranks of the poor, Marikina Rep. Romero Quimbo said yesterday. “With essentials increasing in price by more than 20 percent in the last seven months, it is fair to say that four million more Filipinos have become poor because of uncontrolled inflation,” Quimbo, now a member of the opposition, stressed. On behalf of the millions Filipinos now suffering because of this uncontrolled, self-inflicted inflation,” Quimbo said. “We have seen the spikes in prices due to TRAIN 1, and now he is pushing again for TRAIN 2. Rep. Michael Romero of 1-Pacman, who is an economist, urged the government to “do drastic measures now to counter inflation or we might risk being compared to Venezuela (which has runaway inflation).”

Source: Philippine Star September 11, 2018 15:55 UTC