High RP inflation amid world crises expected - Palace
MANILA, Philippines - Malacañang said that the country's soaring inflation rate for the month of July was expected as the world continues to reel from the twin crises of food and fuel.
This came from Presidential Management Staff secretary general Cerge Remonde who said that the 12.2 percent inflation rate in July, which is near the 17-year high, was discussed by the Cabinet during its meeting.
"This is still part of the result of the spiral of the global food and energy crisis that was experienced. Part of the discussion of the Cabinet kanina, we felt that the government's policy on food especially and rice has so far worked in stabilizing rice prices but itong inflation rate, still part of the long term effect of this," he said.
Remonde said the government hopes that the inflation rate would improve in August particularly after the Mean of Platts Singapore (MOPS) had recorded a three-month low in fuel prices.
He also said that the President wants the Cabinet to move fast in addressing issues that contribute to inflation.
"What we can assure lang really is the President and her government is doing its best to be able to address the problem of inflation but we cannot assure kasi as we all know, there are external factors. What factors we can address internally we will," he said.
The July rate was higher than the 11.2 percent to 12 percent projection by the Bangko Sentral ng Pilipinas. - GMANews.TV
____
Economists agree that high rates of inflation are caused by high rates of growth of the money supply. It is apparent that there is a fluctuation in the prices for goods and services, but more of an increase. Oil (Gasoline, etc.), rice and other necessities have evidently increased within the year and are very much hurting the pockets of many. Another probable cause of this increase in inflation is the change of supply or demand of money. Since everything is getting more expensive by the day, the demand of money increases.
The government is trying its very best to moderate this increase. As mentioned in the article, the President has ordered her staff to act quick in order for this 12.2 % increase to lessen. After all, the estimation or the percent projection, which is around 11.2%-12% by the BSP or the Bangko Sentral ng Pilipinas was actually lower compared to the actual 12.2 % inflation rate of July 2008. That's a 10% - 0.2% difference!
-alg
3 comments:
Well, I really hope that our government is doing its best to solve this continuous inflation that our country is experiencing now.. Many people are really suffering because of this. Marami talagang nagtataas ngayon.. The continuous increase of the price of oil continuously affects the prices of other commodities.. Pamasahe mataas nrin.. Pti kfc and other restaurants/fast foods.. Mahirap na nga tayo lalo pa tayong naghihirap!!
Inflation rates hit a, was it a 17 year high? The poor people are suffering enough already, they just become even poorer. Even the middle class are getting affected already. Everyone is affected and who knows when this will stop. We can blame oil prices and all that but in the end, it still doesnt solve our problem, times have really changed.
Ito na naman, balita na naman na bumabagsak na ang ekonomiya ng Pilipinas. Ano na lang mangyayari sa atin? Magagalit ang gobyerno sa sobrang dami ng rally ng mga tao, eh kasi naman, paano hindi magrarally, kailan pa pakikinggan ang mga maliliit na boses ng mga mamayan? Kapag bagsak na ang Pilipinas at tuluyan na tayong nakalagapak?
Sana matauhan na ang bawat isa sa atin na gumawa na ng tamang aksyon para masagupa na ang kahirapan ng Pilipinas. Minsan kasi puro salita lang tayo pagdating naman sa gawa kulang.
Kaya tayong mga bata na sinasabi nilang kinabukasan, patunayan natin na tayo ay naiiba. Ipakita natin na kahit tayo ay musmos lamang sa kaisipan ay mayroon tayong malaking kalooban para tulungan ang ating bansa.
Post a Comment