The latest data from the Philippine Statistics Authority (PSA) reveals a slowdown in the country’s inflation rate, with some regions like Samar showing small improvements. The inflation rate now stands at 0.1 percent, down from -0.8 percent in Samar, a slight decrease from the previous -0.9 percent.
However, experts are urging the public to rethink the common assumption that low inflation means lower prices. Economic analyst Perante explained that while inflation is slowing down, it doesn’t mean prices are actually falling. Instead, prices are still increasing, just at a slower rate than before.
The inflation rate is determined by tracking the annual change in the Consumer Price Index (CPI), a basket of goods and services that reflects the everyday expenses of households. The PSA uses data from 2018 as a baseline, and the prices of items in the index are monitored regularly. While the PSA collects data twice a month for most products, petroleum prices are tracked every Friday to reflect their often volatile changes.
These numbers highlight a key economic trend: although the pace of price increases is easing, costs are still rising. This means that while the latest report may offer some reassurance, it doesn't necessarily translate to more affordable goods for consumers.
As inflation continues to inch upward at a slower pace, the PSA will continue to monitor price trends to offer a clearer picture of the country’s economic health. For now, the message is clear—prices may be rising more slowly, but they are still on the rise. (with reports from PNA)
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