Secreenshot from the World Bank
Inflation has become a topic of note with some claiming that our 6.4%% an "all time high." We checked this claims against historical records.
In a graph from the World Bank, Philippine inflation figures hit 50% in 1984 right after the Aquino asasination, and 19% in 1991 in the last year of the Corazon Aquino presidency, followed by 8% in 2008 in the final years of the Arroyo presidency. Even during the Benigno Aquino administration where we exceeded 4% in 2014
Governments econo ic managers have forecasted the Inflationary spike last March.
Spikes such as these are temporary and tend to taper off when new commodity supplies such as rice stocks arrive or harvests come, or when global crude oil prices go down.
The most recent spike is caused by higher food and fuel costs.