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'Moderate' inflation no cause for concern: finance official

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Michelle Ong, ABS-CBN News

MANILA - Inflation is &quot;moderate&quot; and the impact of higher taxes on consumer prices should not be a cause for concern, a finance official said Tuesday.The full impact of higher duties on fuel, sugar-sweetened drinks and cigarettes will be reflected in February, Finance Usec. Karl Kendrick Chua said, adding the 4-percent inflation during the previous month was not due to tax reform.Inflation accelerated to 4 percent in January, the top end of the government&#x27;s 2 to 4 percent target, in the first month that the new duties took effect.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/02/06/18/inflation-accelerates-to-3-year-high-in-january">Inflation accelerates to 3-year high in January</a></li></ul>&quot;Two to four percent is the target. It is moderate. I don&#x27;t see any concern,&quot; Chua told reporters.Chua said tax reform could spike inflation by a &quot;maximum&quot; of 0.7 percent.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/01/04/18/cost-of-train-will-softdrink-fuel-taxes-offset-higher-take-home-pay">Cost of TRAIN: Will softdrink, fuel taxes offset higher take-home pay?</a></li>	<li><a href="http://news.abs-cbn.com/business/01/18/18/inflation-top-risk-to-economy-this-year-2-rate-hikes-likely-analyst">Inflation top risk to economy this year, 2 rate hikes likely: analyst</a></li></ul>He said retailers were selling mostly old stock during the first half of January, when the inflation reading was taken.&quot;But we have to distinguish what was induced by TRAIN, what was induced by the peso depreciation, crude oil or even profiteering,&quot; he said.The Tax Reform for Acceleration and Inclusion raised taxes on some consumer goods to offset a reduction in personal income tax rates and help fund President Rodrigo Duterte&#x27;s P8 trillion infrastructure program.

Inflation is "moderate" and the impact of higher taxes on consumer prices should not be a cause for concern, a finance official said Tuesday.

Inflation is "moderate" and the impact of higher taxes on consumer prices should not be a cause for concern, a finance official said Tuesday.

'Moderate' inflation no cause for concern: finance official

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'Moderate' inflation no cause for concern: finance official

Michelle Ong,

ABS-CBN News

Published Feb 27, 2018 11:57 AM PHT

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taxes

tax reform

Tax Reform for Acceleration and Inclusion

inflation

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