Businessman and Philippine Stock Exchange director Francis Chua said over the weekend rising inflation in the Philippines may plateau in the third quarter and even decline slightly toward the end of the year.
“I don’t think it should worsen. If we are comparing month-on-month, it looks like it had reached its peak. Henceforth, we will see it plateau for the rest of the year. It may even dip a little,” he said.
The inflation rate rose to 5.2 percent in June 2018 from 4.6 percent in May 2018.
Many sectors are blaming blame the new set of fiscal reforms under the Tax Reform for Acceleration and Inclusion law for rising inflation. But businessman like Chua have no doubts the measure would soon stabilize the economy.
“There is no worry that inflation will worsen in the remaining three months. Business people should relax and continue to do business, as usual. Things will start getting better, as the year tapers,” he said.