Philippines inflation rate surges to 9-year high at 9.6%
Philippines’ annual inflation reached a nine-year high of 9.6% since reaching the 10.5% level in January 1999.
The National Statistics Office (NSO) said the rise was “primarily triggered by the continuing higher annual price increases in the heavily weighted food, beverages and tobacco index.” The Philippines has been hit hard by a worldwide rise in the price of rice and fuel and when inflation is on the rise, central banks tend to tighten monetary policy to discourage consumer and business spending caused by excess money supply.
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June 5th, 2008 at 11:36 pm
ala!,,,
hehe..
June 6th, 2008 at 12:00 am
Haaaay buhay panahon na talaga para magtipid. Carpool nanaman sa pasukan.
June 6th, 2008 at 10:25 am
now…the malacanang has to do something about it! they keep on telling us that the Phils. is improving…but why cant we feel such improvement! instead we are in big hurdle amongst all these!
June 6th, 2008 at 10:53 pm
Our country needs a BIG help. It’s everyones fault, especially those who lead our country. Instead of making our economy rise and our country become better in terms of all aspects, our nation is in shame—There is no progress.
I’m only 16 and I am really concerned of what is happening in our nation.
How about our generation’s future??
The present leaders should act now. Not only leaders and government officials, but to all Filipino citizens.