Alexa Melina M. Mora | September 18, 2018 | UPDATED: November 28, 2018
MANILA, PHILIPPINES - A 6.4% increase in the prices of commodities was recorded in September 2018, the highest inflation rate the country experienced in the last nine years. The inflation could be felt by the Filipinos from prices of the staple food products in wet markets to prices in food concessionaires and restaurants. This increase can be viewed as the result of both local and international factors. On one hand, the first phase of the TRAIN law implementation increased the taxes of goods being catered to the people. On the other hand, the importation of crude oil from other countries contributed significantly to the increasing prices of goods in the market.
Presidential spokesperson Harry Roque addressed the issue by saying that the increase in prices is a way for administration to balance out having a steady economic pace and at the same time manage the poor who are the most affected by the rise. However, the disjoint between this claim and the actual situation of the Filipino people raises hard questions on the country’s capacity to overcome from this all-time low.
Moreover, there was a decrease in the inflation rate recorded in the month of November this year, falling to a 6.0 percent after a 0.3 percent rise in October.
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