Basic knowledge about inflation is helpful for common and business people. It will give a good idea on what’s happening to our economy and the buying power of the Philippine peso.
We all know that prices of commodities and services are kept increasing each passing days and years. It will and cannot go down because it is a part of the business model of the country’s economy.
All businesses and companies depend on the inflation and inflation rate. It is one factor in determining the price of the products and services they will provide to their customers.
Common people like you and me may not notice the effect of inflation but actually it has. Maybe we are more prone to the effects of inflation because we are the one that buys and needs the services of the businesses provides.
Anyhow, you can see in the table below, the inflation didn’t change from April to May, it is still at 2.6%. The inflation is stable at this number. Although, if you also notice, the inflation is higher in areas outside National Capital Region (NCR) and NCR itself.
|Year-on-Year Inflation Rates, All Items|
|May 2013||April 2013||Year-to-date|
The information above was obtained from the National Statistics Office website. If you want to learn more about inflation in the Philippines, simply visit their site.