Partly bad luck, mostly mismanagement
By this time, most are aware by now that September’s inflation of 6.7 percent is the highest in almost 10 years. The last time it was higher was 7 percent in February 2009 in the midst of the Global Financial Crisis caused by the US Financial Crisis. With respect to the Bangko Sentral ng Pilipinas’s targets, 6.7 percent overshoots the midpoint target of 3 percent by 3.7 percent and breaches the target range of 2 to 4 percent by 2.7 percent. As to the causes of the spike in inflation, many attribute this to The Tax Reform for Acceleration and Inclusion Act or TRAIN, bad luck due to the spike in the global price of oil and operational mismanagement.