Philippine Inflation Rate for October 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!

 

Philippines Current Inflation Rate for January 2012

Perhaps you already know that I’m regularly posting articles about the inflation rate in the Philippines because I believe it is one of the good information that everybody should know. I hope more and more people would take a time to learn how inflation affects our daily life and the economy of our country as a whole.

Even the government is greatly concerned with inflation because it is one indication of the economic stability of a country. If there is a hyper inflation, many people would not afford to buy the basic necessities in everyday living because food and other commodities will be very expensive.

Deeper knowledge about inflation would be also very beneficial when deciding where to invest your money. We want an investment that will beat inflation because in doing so, you can preserve the buying power of your money that you put in that investment and at the same time get a profit.

inflation rate

The reliable sources of information about inflation can be obtained from NSO, BSP and NCSB. These are the some of the government and non-government agencies that regularly monitors the inflation in the Philippines.

In the month of January 2012, we could see that inflation rate is at 3.9%. This figure is lower than the inflation rate recorded last month, December 2011 at 4.2%. The following table gives details on the inflation rate in December 2011, January 2012 and the year-to-date inflation rate.

Year-on-Year Inflation Rates, All Items

Jan 2012 Dec 2011 Year-to-date
    Philippines 3.9 4.2 3.9
    NCR 3.5 3.0 3.5
     AONCR 4.0 4.5 4.0

There are several factors that affect the fall of inflation this month. One good factor why the inflation increase or decrease is the law of supply and demand. When there is a high demand for a something like rice, the tendency is its price will increase making the inflation also to increase.

Last time, I mentioned that inflation is not that bad as it is because it is natural for an economy to have inflation as the time goes by. The important thing about this inflation is to control it so that prices of commodities and services will be in the affordable range of the consumers like us.