Philippine Inflation Rate for October 2012

by Gil on November 17, 2012

We all know that prices of stuffs and commodities are continuously increasing each passing days, months and years. It is a given fact and we cannot control its increase.

As an example, the price of rice last year, 2011 is lower compared than its price this year 2012. Many things affect the change in the price of rice like oil price, calamities, and increase in the materials used for planting rice.

Not only basic commodities are increasing its price. Even services also increase. For example, tuition fees of many schools are kept increasing because of the increased in price of other commodities and the salaries of teachers.

As you can see, inflation will and always increase every year. The only thing we can do is to lessen its effect on us by taking countermeasures.

One example I want to give you is this: If you have the capability to plant vegetables and produce your own food, you must do it. If you have enough space of land that can be used for planting vegetables and fruit-bearing trees, take the advantage of producing some food for your meal table.

In addition, if it is allowed in your area to raise poultry or livestock, you should start now. It is a good way to fight the effects of inflation by making your own food.

Inflation rate in the Philippines

Currently, the location of our house is good for planting some vegetables so my father-in-law who are now living in our home, planted some vegetables in our yard. Some of his vegetables are eggplant, string beans, pepper, tomato, papaya, and sweet potato.

We have also mango tree, guava, kamias and pomelo tree. Our lot is not big but we want to plant trees to enjoy some of its fruit which we can eat as long as we want.

That being said, I just want to say that doing those things can help lessen the effect of inflation in our everyday living. For example, if you have tomato in your backyard or pots, you don’t need to buy tomato in the market.

Anyhow, it is just a simple tips that can lessen the effect of inflation. There are still other things that you can do such as investing your money in investments that can beat inflation like UITF and mutual funds.

To give you update about the inflation in the Philippines for October 2012, you can see it in the table below coming from the National Statistics Office of the Philippines. The table includes the inflation last month and the current month for different areas of the Philippines.

Year-on-Year Inflation Rates, All Items
October 2012 September 2012 Year-to-date
  Philippines
     Headline 3.1 3.6 3.2
     Core 3.6 3.8 3.8
  NCR
     Headline 2.9 3.5 2.9
  AONCR
    Headline 3.3 3.7 3.2

 

As you can see in the above table, the inflation rate for October 2012 was lower than the inflation rate for September 2012 in all areas of the Philippines. The main reason of decrease in inflation is the deceleration of increase in prices for different commodities and services nationwide.

 

About the Author:

GilGil Tenorio is a blogger, a husband, a father, and an active Christian. He likes playing guitar, C.S. Lewis, Plants and Zombies and NBA. Follow him at Facebook, Google+, YouTube and Twitter. Thanks!

 

{ 0 comments… add one now }

Leave a Comment

*

code

{ 1 trackback }

Previous post:

Next post: