GMA News Online checks Marcos Jr.’s dismissal of PSA’s inflation figure

CHEERS TO GMA News Online’s report that provided the necessary critique in the story. Asked by a reporter for comment on the reported 6.1 percent inflation rate for June 2022 (issued by the Philippine Statistical Authority/PSA), President Ferdinand Marcos Jr. in his July 5 press briefing disagreed, claiming the actual rate is “not that high.” He went on to claim that inflation was “imported,” but did not present any plan to address the rising prices of prime commodities and services.

Media reports simply echoed the president’s disagreement without any reference to the PSA, the government agency charged with providing statistical data on all aspects of social life and development, including inflation rates. But on the same day, GMA News Online described the agency as credible in its methodology. The article “Marcos disagrees with 6.1% June inflation; PSA chief stands by report” included an explanation of its calculations. 

This report was published at 7:55 pm of July 5. The six o’clock newscasts on the same day had no mention of any comment from the PSA. 

GMA News Online’s Ted Cordero and Anna Felicia Bajo reported that Claire Dennis Mapa, National Statistician and chief of the PSA, said his agency was standing by its findings. The report pointed out that this was a monthly routine for the PSA and inflation rates are reported every first week of the month. The report also said that the 6.1 percent June rate is the highest recorded since the consecutive rates of 6.9 and 6.1 in October and November 2018.

GMA’s report also correctly observed that Marcos Jr. did not say why he disagreed with PSA’s June inflation figure. Since he is neither an economist nor a statistician, it was important to question his basis for disagreeing, which the media did not do.

GMA’s report was the first to exercise the responsibility of checking the President’s dismissal and establish the standing—indeed, the long established credibility— of the PSA’s figures. Some late-night reports on July 5 and early morning news accounts on July 6 did well to include Mapa’s statement about PSA’s assessment. While these reports did not cite the PSA’s methodology, they included clips of Mapa in the PSA briefing explaining that based on nationwide trends, inflation rates will only worsen and the peso’s value will decline further.

On July 6, Finance Secretary Benjamin Diokno said in a news briefing that the president’s disbelief about the high inflation rate was “misunderstood.”

“He was referring to it as a full-year figure when in fact, the year-to-date, meaning January to June average inflation rate is actually 4.4%,” Diokno said. No journalist attempted to clarify that the rate being cited was specifically for the month of June. 

Malacañang should be thankful for Diokno’s prompt “save.”