The excise tax hike under the Department of Finance’s (DOF) proposed comprehensive tax reform plan is expected to create some inflationary pressure, and could result in moderate increases in inflation in 2017 and 2018, the Bangko Sentral ng Pilipinas (BSP) said.

Diwa Guinigundo, Deputy Governor of the BSP, told reporters last week that the increase in excise taxes in the tax reform package proposed by the DOF will bring about “muted” increases in prices.

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