Inflation Rate in the Philippines for August 2013

It’s bee a long time on my last post about the inflation rate in the Philippines. I have been busy in our school supply business and sometimes we don’t have internet connection. At this moment, we’re only using a broadband stick so we need to reload every time it got empty.

 

Anyway, this post is again about the inflation rate in August 2013. There are many factors that need to be considered when assessing the impact of inflation to the overall economy of a country and people.

 

This post is only information on the changes of inflation happening for the previous months, for example last August 2013. The source of this inflation rate comes from the National Statistics Office (NSO).

 

Year-on-Year Inflation Rates, All Items
August 2013 July 2013 Year-to-date
  Philippines
     Headline 2.1  2.5 2.8
     Core 1.9  2.3 3.1
  NCR
     Headline -0.1 1.0 1.6
  AONCR
    Headline 2.7 2.9 3.1

 

The table above shows the inflation  rate in the Philippines for July and August 2013. There’s a noticeable decline of inflation if you could look closer to the statistics.

Inflation Rate in the Philippines for January 2013

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 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.

Inflation Rates
January 2013 December 2012 Year-to-date
Philippines
Headline 3.0 2.9 3.0
NCR
Headline 2.4 2.8 2.4
AONCR
Headline 3.3 2.9 3.3

 

Conclusion

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.

Reference: NSO

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!

 

Philippines Current Inflation Rate

Inflation rate is the rate of change on the prices of commodities and services in a certain place like for example in one country. Normally, inflation rate depends on the place where are you living.

For example, if you are living in Manila, the inflation rate may be higher or lower than those in places in Mindanao like Davao City or Misamis Oriental. Inflation is continuously changing and always will be because of many factors involved.

Currently, the inflation rate over-all in the Philippines for the month of August 2011 is 4.7% according to the National Statistics Office (NSO). In National Capital Region or NCR, the inflation rate is lower at 3.3%. For those Areas Outside National Capital Region (AONCR), the inflation rate stands at 5.1%.

 

For the year-to-date inflation rate for 2011, the inflation rate is as follows:

Philippines – 4.8%

NCR – 4.0%

AONCR – 5.0%

 

If you notice, the inflation rate outside NCR is higher than in Metro Manila, meaning the price of commodities and services in those areas increase faster than in NCR. Inflation is always increasing and not decreasing, it is the reason your P100 today will be worth less after five years from now.