Philippine inflation rate spikes up to 8.3 per cent

[Win2Win]

Manila - The Philippines' year-on-year inflation rate surged to 8.3 per cent in April amid skyrocketing prices of food and other basic commodities, the government said Wednesday. The National Statisti...

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[KeithD]

Although using Gordon Brown's algorithm it's only 1.2% ......no problem then

[joebloggs]

well 8% in phils and gov says its only 2.5% here

from the daily mail

'According to the Consumer Price Index, inflation is running at only 2.5 per cent.

Yet the Mail's index finds that food costs alone are rising at 15.5 per cent a year - more than six times the official rate.

And there are double-digit increases in other "must-pay" essentials such as petrol, gas and electricity.

Many families need to find more than £1,200 extra a year just to stand still. '

i wonder who's right hmmmm

"There are three types of lies - lies, damn lies, and statistics

[Alan]

Hmmm! Let me see!

The rice that Hanna buys was P22 a month or so ago (per kilo.)
Yesterday, she paid P35.50.

Now, as a maths teacher, and correct me if I'm wrong - but that's a bit more than 8% to me!!!!!!!!!

If you take prices as a whole - which, of course, is what inflation is based upon - that means that something else here in the Phils. must have gone down in price an awful lot.

NOPE! Can't find anything gone down!!

In fact, petrol has gone up about 11%
Cooking oil has gone up about 16%
San Miguel has gone up about 10%
The price of land has gone up about 15%

Once again I say 'Hmmmm!' - 8.3% ?????????????????????????????

Of course, this is the land of corruption and lies isn't it?

God bless and help the POOR Filipinos!!

Al.

[KeithD]

At least 8.3% is closer than Rip-Off Britain's 2.5%

[keithAngel]

Hmmm! Let me see!

The rice that Hanna buys was P22 a month or so ago (per kilo.)
Yesterday, she paid P35.50.

Now, as a maths teacher, and correct me if I'm wrong - but that's a bit more than 8% to me!!!!!!!!!

If you take prices as a whole - which, of course, is what inflation is based upon - that means that something else here in the Phils. must have gone down in price an awful lot.

NOPE! Can't find anything gone down!!

In fact, petrol has gone up about 11%
Cooking oil has gone up about 16%
San Miguel has gone up about 10%
The price of land has gone up about 15%

Once again I say 'Hmmmm!' - 8.3% ?????????????????????????????

Of course, this is the land of corruption and lies isn't it?

God bless and help the POOR Filipinos!!

Al.

Alan really "correct me if I'm wrong" nothing needs to have gone down as each item you list has to be seen in the context of expenditure as a percentage of the whole clearly there will always be anomalies for example if you spend 50% of your monthly budget on San Miguel and nothing on other items that have gone up then this would represent a 9% overall increase at a personal level but these statistics rely on a much bigger and representative sample.

Land prices are influenced by many factors including "supply and demand" Here in the UK a house may be "worth" £180,000 but the rebuild cost is £60-70000 as the land is artificially valued by controlling the supply using planning and other such controls.

[KeithD]

Land and house prices do not influence the vast majority of the day-2-day running of our lives.

Inflation was originally brought out to monitor the cost of living, successive governments have been unable to control the bottom line figure, so keep adding other factors to fiddle it.

Compare all the EU Inflation algorithm's, I bet none are the same. Each one designed to make that countries government look as though it is controlling the economy, when in fact they have little control over it.

[Alan]

Alan really "correct me if I'm wrong" nothing needs to have gone down as each item you list has to be seen in the context of expenditure as a percentage of the whole clearly there will always be anomalies for example if you spend 50% of your monthly budget on San Miguel and nothing on other items that have gone up then this would represent a 9% overall increase at a personal level but these statistics rely on a much bigger and representative sample.

Land prices are influenced by many factors including "supply and demand" Here in the UK a house may be "worth" £180,000 but the rebuild cost is £60-70000 as the land is artificially valued by controlling the supply using planning and other such controls.

Yes, of course, point taken Keith.
My examples were anecdotal and obviously not based on the economy as a whole.

Nevertheless, the 'man in the street' will not see, or indeed be able to see, the whole Political picture - all he/she will know is that last week he could afford a kilo of rice - but not this week.

Al.

[fred]

Bottle of Jim Beam P750,00 !!
Back on the Tanduay me thinks...
Bugger it..One more bottle.
Just the one mind..
Bugger it..Make it 2.