PRESIDENT Rodrigo Duterte suspended the implementation of the second tranche of the excise tax on fuel, his top aide said on Sunday.
In a speech during the opening of the TienDA Malasakit Store in Taguig City, Go said that the move was “to arrest the rising price of oil and its effects on the inflation rate.”
He added that the implementation would be deferred, “until the right time.”
The Philippine Statistics Association (PSA) announced in early October that the inflation in the country accelerated to 6.7 percent in September, a nine-year high.
Malacanang blamed the increase to the rising crude prices in the world market.
“We know that the rising inflation rate, the rise in crude prices is one of its primary source,” Palace spokesman Harry Roque, Jr. said in a radio interview aired over dzMM on October 5.
Last week, Roque said that the government was working double time to address inflation. RALPH VILLANUEVA
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