Tiis muna: DOF says TRAIN-related price increases ‘temporary’
It’s been four months of rising prices.
The Department of Finance maintained that the inflationary impact of the Tax Reform for Acceleration and Inclusion (TRAIN) Law remains “moderate” and “temporary.”
Despite outcry among households that prices of goods are rising too fast, Finance Undersecretary Gil Beltran said it’s best to wait it out as prices will eventually stabilize.
“The current spike in inflation is only temporary. All these programs we are implementing, which are made possible because of the additional revenues from TRAIN, are meant precisely to prevent prices from rising further in the future,” Beltran said in a statement.
“TRAIN is a long-term measure that would push the economy to a much higher development path, create more jobs and improve the living conditions for our people.”
Prices have increased by 4.1 percent from January to April versus the 2 to 4 percent target.