Villanueva's statement on 6.4% August inflation

The recent inflation figures show that our economic managers are obviously not on top of this issue. We cannot wait for prices to get further out of control. The economic managers do not seem to be serious in dealing with the problem. So now, we are considering the option of joining our colleagues in reversing the fuel excise tax to at least temper this runaway price surge.

We also reiterate our consistent call to liberalize the entry of cheaper rice and to lower VAT to address this inflation debacle.