Arroyo offers inflation counter-measures to Duterte managers

ABS-CBN News

Posted at Aug 02 2018 08:58 AM | Updated as of Aug 02 2018 11:30 AM

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MANILA -- Speaker Gloria Macapagal-Arroyo proposed at least 5 measures to address inflation during a recent meeting with President Rodrigo Duterte's economic managers, a cabinet official who was part of the exchange said Thursday.

These include reviewing tariffs, Budget Secretary Benjamin Diokno said. It is up to Arroyo's office to elaborate on the proposals which she raised during the closed-door lunch meeting, he said.

"She seems to be very concerned with inflation," Diokno told ANC's Early Edition.

Last week, Duterte said said Arroyo called him up and asked him to "do something" about rising consumer prices.

As president, Arroyo witnessed the sharpest rise in consumer prices following the removal of oil tariffs, Diokno said.

"Maybe she thought that because of her expertise, she could be able to contribute," he said.

Arroyo's office described the Tuesday meeting as a "professor-to-professor" exchange. The former president was an economic professor at the Ateneo de Manila University.

Diokno and Socioeconomic Planning Secretary Ernesto Pernia both taught at the University of the Philippines School of Economics.

"Professor to professor discussion, that's like shooting the breeze. We did look at some data," Diokno said.

Diokno said inflation likely peaked at 5.2 percent last June. Official data is due out next week. On a month-on-month basis, there was a deceleration in inflation, he said.