Philippine inflation rate spikes up to 8.3 per cent

[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.

[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.

[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.