Each month I am dedicating a post about the inflation and inflation rate for the previous month. In this way, I could track the change in prices of commodities and services in the country and other areas in the Philippines.
As a reference for the last year’s inflation, you can see the graph below detailing the inflation rate from January 2012 to January 2013 . It is a quick summary so you can easily see the inflation rate for each month of year 2012.
Inflation Rate in January 2013
Inflation has a direct effect on our daily lives. Each day, in on way or another, all of us spend money on something such as food, utility expenses, services and other basic necessities.
Because of this, all people are affected by inflation since all of us need food and other basic needs. It is the reason inflation should be minimized as much as possible.
Our government particularly the Bangko Sentral ng Pilippinas is the one responsible in controlling the changes in inflation through countermeasures. As an individual or community, we can fight the effect of inflation through several actions like minimizing dependence on buying food.
If we can produce our own food, its a great way to lessen the effect of inflation. Try to plant vegetables and fruit-bearing trees if you have free space of land in your yard or community. It will greatly help to combat inflation.
Below you can see the table for the inflation rate in December 2012 and January 2013. I hope this can give you a good idea and knowledge about inflation.
|January 2013||December 2012||Year-to-date|
As you can see in the table above, the inflation in January 2013 is 0.1% higher than in December 2012. This change was primarily due to the increases in the indices of furnishing, household equipment and routine maintenance of the house; health; and communication.
The inflation in January 2013 is much lower than in January 2012 which is 4.0%. We can see that this is a big improvement in beating the inflation and hope this will continue in the coming years as Philippine economy becomes stronger and more sustainable.