Almost 5 million more Filipinos now poor due to inflation, TRAIN —Quimbo

Close to an additional five million Filipinos have been added to the country’s poor population due to the continuously accelerating inflation and the effects of the first package of the government’s tax reform program, Marikina Representative Miro Quimbo claimed on Monday.
Quimbo made the remark as he stressed the need for the House of Representatives to approve a measure he filed seeking to repeal the excise tax imposed on kerosene and diesel under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Citing a study by the Asian Development Bank in the Philippines in 2008 and 2009, when inflation had also risen to unprecedented levels, Quimbo said that every 10-percent increase in food prices results in 2.3 million new poor Filipinos.

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