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Duterte blames Trump for record-high inflation in the Philippines

Duterte blames Trump for record-high inflation in the Philippines

13 Sept 09:05 Key points summarised by AI
  • President Duterte attributed the Philippines' record-high 6.4% inflation in August to tariffs imposed by US President Donald Trump, stating the US 'had something to do' with the rising commodity prices.
  • Duterte acknowledged his lack of economic expertise, delegating the inflation problem to his economic managers while assuring that the government was actively working on solutions.
  • Analysts largely disagreed with Duterte, with figures like Antonio Valdes blaming the government's own Tax Reform for Acceleration and Inclusion Law for the inflation spike.
  • Economic managers identified increased costs in electricity, gas, fuels, fish, rice, personal transport, and vegetables as the primary drivers behind the record-high inflation.
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