Philippines’ Marcos Rating Plunges Amid Stubborn Inflation

(Bloomberg) -- Philippine President Ferdinand Marcos Jr.’s approval rating saw its sharpest fall since he assumed power last year amid elevated inflation, according to a survey by pollster Pulse Asia Research Inc.

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The president’s approval rating declined 15 percentage points to 65% in September from three months ago, based on a survey of 1,200 adults from Sept. 10 to 14. Pulse Asia conducted the poll shortly after the government reported that August inflation accelerated to 5.3% after a six-month slowdown amid costlier rice and vegetables.

Marcos imposed a cap on rice prices nationwide on Sept. 5 and last week approved 12.7 billion pesos ($224 million) in financial assistance to about 2.3 million rice farmers to help them cope with El Nino and higher production costs.

Vice President Sara Duterte’s approval rating dropped 11 percentage points to 73%. The vice president, who is allied with Marcos, concurrently serves as the education secretary. The survey was held amid congressional deliberations on the 2024 budget which included debates on controversial intelligence funds sought by agencies including those led by Duterte.

While Marcos maintained majority approval rating, the results of Pulse Asia’s latest survey showed a faster decrease in his score compared with his immediate predecessors over a year after assuming power.

Former President Rodrigo Duterte, who Marcos succeeded last year, recorded an approval rating of 80% in a September 2017 poll while Benigno Aquino III, elected in 2010, had an approval rating of 77% in an August-September 2011 survey.

(Updated with chart and background on past presidents’ ratings in last two paragraphs.)

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