Sunday 20 May 2018
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3 months ago

4% inflation in January blamed on profiteering

The Department of Finance on Monday blamed the over three-year high inflation of 4 percent in January on alleged profiteering by unscrupulous traders who took advantage of the higher excise tax rates slapped on a number of products under the Tax Reform for Acceleration and Inclusion (TRAIN) Act. The temporary inflation spike could also be attributed to the apparent profiteering by some traders, contrary to claims that this was caused by the implementation of the new tax reform law, Finance Undersecr

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