Inflation soars to 6.4%, the fastest in almost ten years

Inflation soars to 6.4%, the fastest in almost ten years

- Another sad news to the consumers, inflation accelerated to 6.4%

- The increase in prices of goods has affected mostly those who are in National Capital Region (NCR)

- This has been the fastest inflation since the administration of Gloria Macapagal-Arroyo

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Sad news to all the consumers. It has been announced by Philippine Statistics Authority (PSA) that inflation accelerated from 5.7% in July to 6.4% now in September. Those in National Capital Region (NCR) have been experiencing higher increase for about 7%.

KAMI learned from Rappler that the increase in the prices of consumer goods reached to another 9-year high. This has been the fastest since Arroyo’s administration which hit up to 6.6%.

The annual increase of prices can be felt in goods such as food, alcoholic and non-alcoholic beverages, restaurants, health, furnishing, household equipment, tobacco, recreation and culture, miscellaneous goods and services.

As per Bangko Sentral ng Pilipinas’ Governor Nestor Espenilla, “Much of it has to do with food supply shocks, rice in particular. These warrant more decisive non-monetary measures to fully address,"

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Espenilla added that the inflation was “confluence of cost-push factors” and the “elevated oil prices”.

According to economists, the increase of prices results to the declining economy’s growth. As of the second quarter this year, Philippines’ gross domestic product (GDP) grew for about 6%.

As reported by ABS-CBN News, the unemployment rate went to 5.4% from 5.6% in July last year. Meanwhile, the underemployment rate accelerated to 17.2% from 16.3%

Today we are going to ask Tagalog strangers some very funny tricky questions! Do you think you can answer them correctly? These individuals from the Philippines have their answers! What do you think came first, the egg or the chicken? Can you cry under water? These questions might sound easy, but in reality, they are pretty tricky and it is easy to make a mistake! – on KAMI HumanMeter YouTube channel!

Source: Kami.com.ph

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