In­fla­tion Rate

The rate of de­crease in the pur­chas­ing power of money is ap­prox­i­mately equal.

Palawan Daily News - - Opinion -

These past few weeks and up to this very day, in­fla­tion has be­come one of our coun­try’s sev­eral global is­sues.

Even long be­fore, it is al­ready an is­sue but was not yet that very alarm­ing. The rate surged to 6.4% as of Au­gust 2018 and Philip­pines will no longer be able to deny this.

We can see in the dif­fer­ent so­cial me­dia sites the opin­ions, re­ac­tions and series of the know-how ar­ti­cles all about this year’s Philip­pines’ in­fla­tion rate yet there are still some who are be­ing ig­no­rant to­wards the is­sue.

So, to open the eyes, minds and hearts of my fel­low youth, I hope that this would be of help for them to par­take so­lu­tions al­beit in very sim­ple ways.

Ac­cord­ing to Statista, in eco­nom­ics, the in­fla­tion rate is a mea­sure­ment of in­fla­tion, the rate of in­crease of a price in­dex (in this case: con­sumer price in­dex). It is the per­cent­age rate of change in prices level over time.

The rate of de­crease in the pur­chas­ing power of money is ap­prox­i­mately equal. The rate is al­most on its ul­ti­ma­tum, to the point that the meme we are see­ing that “500 is the new bente” gam­ing is ab­so­lutely go­ing strong and the pos­si­bil­ity of ne­ces­si­ties or other things to be bought by a con­sumer with a 500-peso bill is get­ting weak.

It’s very sad be­cause lately, we stand to de­pend on money be­cause al­most every­thing should be ac­com­pa­nied by money in re­turn. Stuffs, foods, and such be­come even pricey—prov­ing that in­fla­tion in the coun­try is al­ready vis­i­ble and be­ing felt also.

Fam­i­lies with num­bers of mem­ber more than three are the ones who are more prone to be de­prived. We all know that bud­get­ing is re­ally a tough task and the mere fact that we are all con­sumers and in­fla­tion rate isn’t now a sur­prise, then, ev­ery­one is al­ready de­prived.

More­over, mostly of Fil­ipino fam­i­lies, the Fa­thers are the only ones who take the re­spon­si­bil­ity in pro­vid­ing their fam­i­lies’ needs. It’s nice if both of your par­ents are work­ing. But, I guess, in­fla­tion rate has its good sides also al­beit the bad ef­fects it has are way heav­ier than the other way around. None­the­less, the is­sue helps us to be thrifty and get to learn the bud­get­ing styles and tech­niques. Es­pe­cially, as a col­lege stu­dent hav­ing num­bers of re­quire­ment plus the meals I have to eat, I am chal­lenged to bud­get my money in order to com­ply what I need to com­ply with­out de­priv­ing my­self from thirst and hunger.

Also, in­fla­tion rate gives us the value of buy­ing first the needed ones over wants. We are all able to dis­ci­pline our­selves be­cause money isn’t just some­thing our par­ents could eas­ily have. They are strug­gling and wip­ing tears and sweat just to have salaries to pro­vide for our needs. The gov­ern­ment should do some­thing for this.

We aren’t get­ting any younger now, pop­u­la­tion is get­ting big­ger an­nu­ally and var­ied is­sues are com­ing the way.

We shouldn’t be de­prived of some­thing we are en­ti­tled to have. In­fla­tion rate should be fa­vored for the com­mon good and not to hin­der be­cause we, con­sumers should not ad­just rather en­joy what we could all buy with each peso we are hav­ing—our par­ents are giv­ing us.

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