Inflation hits 3-year high
Economy

Inflation hits 3-year high

May 5, 2022, 11:31 AM
Rose De La Cruz

Rose De La Cruz

Writer/Columnist

Inflation has hit a 3-year high. The 19th Congress must urgently take up measures to tame inflation, or there is no possibility for it to subside soon.

As inflation hit a 3-year high in April, Rep. Angelica Natasha Co cited the urgency of arresting inflation by the 19th Congress or it would not subside soon.

Co, vice chair of the committee on public accounts and member of committee on economic affairs, said fighting, cushioning the impact of inflation must be the urgent agenda of the 19th congress.

"Without effective response measures, elevated inflation does not look like it will subside soon," she said in a press statement.

It is necessary therefore for the 19th Congress to support executive action and swiftly approve an effective set of anti-inflation measures.

First, we must give the regulators-- Energy Regulatory Commission, Metropolitan Waterworks and Sewerage System, the Local Water Utilities Administration and other utilities regulators more tools to reduce electricity and water costs borne by consumers.

Remaining Malampaya funds must be used in a targeted way to cut fuel prices.

Consumers must be shielded from the effects of fuel price hikes now and in the coming years.

The Malampaya Fund can again be sourced for Pantawid Kuryente and Pantawid Pasada funds.

The unbundling of fuel prices must happen. Congress must resist the strong lobby against fuel price unbundling.

Second, cargo shipping costs must go down. One of several ways would be to slash by 50 percent or more the cargo fees charged on the transport of fuel, farm and seafood harvests, food, and basic consumer items.

Public service must be the priority of government local ports, not incomegeneration.

Some components of commuter transport fare can be removed.

The service contracting scheme for NCR buses can be expanded to include some trips of inter-island ferries and provincial buses.

There should be service contracted ferries for routes between NCR and Bataan-Zambales and Cavite to Manila.

Islands like Catanduanes, Marinduque, andRomblon should also have ferry service contracting also known as government-subsidized Libreng Sakay.

Tags: #Inflation, #19thCongress, #consumers, #economy


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