Inflation to rise this January due to TRAIN Law

Consumers should budget their money now wisely as there will be a sudden price hike on primary needs due to the effect of the TRAIN Law which is the rising of inflation.

The inflation would likely to rise at 3.3 percent said the Finance department.

The Tax Reform for Acceleration and Inclusion imposes excise tax on sweetened beverages and raises the excise tax in petroleum and coal meaning the transportation department will also be affected.

To compensate the loss of the government in income tax exemption which is the condition of the TRAIN Law.

In addition, non-food items, housing utilities, tobacco will also have a higher excise tax compared before.

Moreover, the transport cost will also rise by 3.1 percent.

On the other hand, good economic growth would stabilize the expected inflation said the Finance Department.

Meanwhile, the excise tax that will be get in the implementation of the TRAIN Law will fund and support the administration 's infrastructure program named" Build, Build, Build".