1. Research for the inflation trend from year 2000 to year 2020.

Summary Inflation Report Consumer Price Index (1994=100) : January 2000

 Year-on-year inflation slowed down to 2.6 percent in January 2000 from 11.5 percent
a year ago even as month-on-month inflation accelerated to 0.5 percent in January
from 0.1 percent in December 1999.
 The 2.6 percent inflation is the lowest year-on-year growth since the 2.0 percent
posted in May 1987.
 The slowdown for all commodity groups except fuel, light and water has been
affected by, among others, the high base of the January 1999 inflation of 11.5
percent which was the highest since the December 1991 rate of 13.3 percent.
 Prices of food items such as fruits and vegetables, rice, sugar, cooking oil and meat
were lower compared to January last year. However, the price increases of the same
food commodities plus fish contributed significantly to the month-on-month growth
which has picked up.

CONSUMER PRICE INDEX

(1994=100)
JANUARY 2000
> By Commodity Group, Year-on-Year

 Inflation rates for all commodity groups except for fuel, light and water (FLW) slowed
down in January. The rate for food, beverages and tobacco (FBT) moved down to –
1.0 percent in January from 0.6 percent in December; for clothing, to 2.7 percent
from 4.9 percent; for housing and repairs (H&R), to 7.2 percent from 8.8 percent; for
services, to 11.5 percent from 12.5 percent; and for miscellaneous items, to -0.3
percent from 3.8 percent. However, the rate for FLW picked up to 8.4 percent from
8.2 percent in December.
 In Metro Manila (MM), the rate for FBT further declined to –2.7 percent from –0.9
percent in December while those for clothing and miscellaneous items decelerated
by 3.4 percentage points; and H&R, by 0.3 percentage point. On the other hand, the
rates for FLW and services were higher by 0.7 percentage point and 1.1 percentage
points, respectively.
 Summary Inflation Report Consumer Price Index (1994=100) : January 2001

The inflation rate went up further to 6.9 percent in January, from 6.6 percent in December.
The rise in prices of food, beverages and tobacco (FBT) and services contributed to the
increase. Inflation during the same month a year ago was 2.6 percent.
 Inflation in Metro Manila (MM) increased to 7.8 percent from 7.5 percent in
December.
 Inflation in Areas Outside Metro Manila (AOMM) moved up to 6.5 percent from 6.3
percent in December.

CONSUMER PRICE INDEX

(1994=100)
JANUARY 2001
> By Region, Year-on-Year

 The inflation rate for MM increased to 7.8 percent in January from 7.5 percent in
December 2000.
 Inflation in AOMM went up to 6.5 percent in January from 6.3 percent in December.
Eight regions posted higher inflation rates. The biggest increase was in Ilocos region
at 1.2 percentage points. The highest rate was still observed in ARMM at 9.8 percent
while the lowest was in Central Mindanao at 4.6 percent.

Summary Inflation Report Consumer Price Index (1994=100) : January 2002

 Year-on-year inflation further slowed down to 3.8 percent in January from 4.1 percent
in December. This was effected by the continued deceleration in the inflation rates of
food, beverages and tobacco (FBT), clothing, services and miscellaneous items.
Inflation a year ago was 6.9 percent.
 Similarly, inflation in the National Capital Region (NCR) slightly eased to 5.3 percent
in January from 5.4 percent in December mainly brought about by the decline in the
rate of FBT. Slower rates in clothing, services and miscellaneous items also
contributed to the downtrend.
 Inflation rate in Areas Outside the National Capital Region (AONCR) slipped to 3.2
percent in January from 3.5 percent in December as all the commodity groups except
for clothing registered lower rates.
 Month-on-month inflation slightly picked up to 0.4 percent in January from 0.3
percent in December. This was mainly due to the significant upward adjustment in
the price of electricity and water in NCR and AONCR. Increases in the rates of
clothing and housing and repairs (H&R) also contributed to the uptrend.

CONSUMER PRICE INDEX

(1994=100)
JANUARY 2002
>By Region, Year-on-Year

 The inflation rate for the National Capital Region (NCR) was registered at 5.3 percent
in January from 5.4 percent in December.
 Inflation in Areas Outside the National Capital Region (AONCR) at 3.2 percent in
January was slower than the 3.5 percent in December. Twelve regions posted lower
inflation rates. The biggest decrease was seen in Ilocos at 1.2 percentage points
followed by Cagayan at 0.8 percentage point. The lowest rate was still noted in
Cagayan Valley at 1.0 percent while the highest rate at 5.2 percent was still in
Eastern Visayas.

Summary Inflation Report Consumer Price Index (1994=100) : December 2003

 Year-on-year inflation decelerated to 3.1 percent in December from 3.3 percent in
November. Except for housing and repairs (H&R), the slowdown in the inflation rates
of all the commodity groups brought about the downtrend. Inflation a year ago was
2.6 percent. The average inflation rate for the year 2003 was 3.1 percent, the same
rate registered in 2002.
 Likewise, inflation rate in the National Capital Region (NCR) slid to 4.2 percent in
December from 5.1 percent in November mainly due to the 1.5 percentage points
slowdown (3.5 percent from 5.0 percent) in the rate of food, beverages and tobacco
(FBT). The slower movements in the rates of the other commodity groups except for
H&R also contributed to the decline. The average inflation in the area was 3.8
percent compared to 3.7 percent posted a year ago.
 Inflation rate in Areas Outside the National Capital Region (AONCR) slightly picked
up to 2.7 percent in December from 2.6 percent in November due to the continuous
increase in the inflation rate of FBT. Increments in the inflation rates of fuel, light and
water (FLW) and miscellaneous items also added to the uptrend. Average inflation
for the year at 2.7 percent was slower than the 2.9 percent in 2002.
 Month-on-month inflation slightly went up to 0.3 percent in December from 0.2
percent in November. This was mainly due to the upward adjustments in the prices of
selected food items such as rice, meat, fresh fish, shrimps, fruits, vegetables,
calamansi and cooking oil. Uptick in the prices of selected construction materials,
kerosene, LPG, charcoal, gasoline, diesel, engine oil and medicines were also noted
during the month.
 CONSUMER PRICE INDEX
(1994=100)
DECEMBER 2003

>   By Region, Year-on-Year

 The inflation rate in NCR slowed by 0.9 percentage point to 4.2 percent in December
from 5.1 percent in November.
 Inflation in AONCR slightly accelerated to 2.7 percent in December from 2.6 percent
in November. Higher inflation rates were still noticed in nine regions. The biggest
increase at 0.8 percentage point was observed in CAR followed by Ilocos at 0.7
percentage point. The highest rate was still posted in CAR at 6.2 percent while the
lowest rate was still recorded in Cagayan Valley at 1.5 percent.
Summary Inflation Report Consumer Price Index (1994=100) : January 2004

 Year-on-year headline inflation went up to 3.4 percent in January from 3.1 percent in
December mainly due to the 0.9 percentage point increase in the rate of food,
beverages and tobacco (FBT). Inflation a year ago was 2.7 percent.
 Meanwhile, inflation rate in the National Capital Region (NCR) decelerated to 3.8
percent in January from 4.2 percent in December. This was primarily effected by the
5.4 percentage points slowdown (4.5 percent from 9.9 percent) in the inflation of fuel,
light and water (FLW). Slower movements in the rates of clothing and services also
contributed to the decline.
 Inflation rate in Areas Outside the National Capital Region (AONCR) accelerated to
3.3 percent in January from 2.7 percent in December as inflation for FBT moved
up.               

 Excluding food and energy items, core inflation rose to 3.6 percent in January from
3.4 percent in December.
 Summary Inflation Report Consumer Price Index (2000=100) : December 2005

 The year-on-year headline inflation rate in the Philippines decelerated to 6.6

percent in December from 7.1 percent in November. The slower annual
inflation rates posted in the indices of all the commodity groups except for
housing and repairs (H&R) and fuel, light and water (FLW) brought about the
downtrend. Inflation a year ago was 8.6 percent. The average headline
inflation rate for the year 2005 was 7.6 percent, higher by 1.6 percentage
points than 6.0 percent in 2004.
 Excluding selected food and energy items, core inflation eased to 5.8 percent
in December from 6.1 percent in November. The average annual core inflation
rate was higher by 1.3 percentage points to 7.0 percent in 2005 from 5.7
percent in 2004.
 Likewise, inflation rate in the National Capital Region (NCR) slowed by 0.6
percentage point to 7.4 percent in December from 8.0 percent in November
mainly due to the 1.9 percentage points slowdown (4.1 percent from 6.0
percent) in the rate of the heavily weighted food, beverages and tobacco
(FBT) items. The downward trend in the rates of the other commodity groups
except for H&R and FLW also contributed to the decline. The average inflation
in the area was 8.6 percent compared to 5.8 percent recorded a year ago.
 Inflation in Areas Outside the National Capital Region (AONCR) eased to 6.4
percent in December from 6.8 percent in November due to the slower
movements in the annual price increments of all the commodity groups except
for clothing and H&R. Average inflation for the year at 7.2 percent was higher
than the 6.1 percent in 2004.
Compared with November 2005, the general level of consumer prices increased at a slower
pace of 0.3 percent in December from 0.8 percent as prices of petroleum products went
down during the month. Moreover, reduction in the price of rice along with the slower upward
adjustments in the prices of selected food groups such as cereal preparations, dairy
products, eggs and fish also contributed to the downtrend.
 Summary Inflation Report Consumer Price Index (2000=100) : January 2006

 The year 2006 started off with an annual headline inflation rate in the Philippines of
6.7 percent, higher than the 6.6 percent growth in December 2005. This was effected
by the acceleration in the inflation rates of services and miscellaneous items. Inflation
in January 2005 was 8.4 percent.
 Excluding selected food and energy items, core inflation further slowed down to 5.5
percent in January from 5.8 percent in December.
 Inflation rate in the National Capital Region (NCR) decelerated to 7.0 percent in
January from 7.4 percent in December mainly due to the 8.1 percentage points
decline (11.0% from 19.1%) in the annual rate of fuel, light and water (FLW).
 Areas Outside the National Capital Region (AONCR) retained its previous month’s
inflation rate of 6.4 percent. The slower annual inflation recorded in FBT, clothing and
H&R offsetted the higher annual rate in FLW.

 The 0.7 percent increment in the general level of consumer prices was mainly
brought about by the 0.7 percent growth in the prices of food items particularly flour
and flour products, eggs, fish, selected fruits and vegetables, meat and sugar.
Moreover, higher electricity rates and increased charges for selected medical, dental
and personal services registered in many regions including NCR were also noticed
during the month. Upward adjustments in rental rates in NCR also contributed to the
uptrend.
 Summary Inflation Report Consumer Price Index (2000=100) : December 2007

 The Philippines’ year-on-year headline inflation rate increased to 3.9 percent in

December from 3.2 percent in November. This was effected by the acceleration in
the annual inflation rates of food, beverages and tobacco (FBT), fuel, light and water
(FLW) and services. Inflation a year ago was 4.3 percent.
 The average annual headline inflation rate in the Philippines for the year 2007 was
2.8 percent, slower by 3.4 percentage points than the 6.2 percent in 2006.
 Likewise, inflation rate in the National Capital Region (NCR) picked up to 3.5 percent
in December from 2.6 percent in November due to the upward movements in the
rates of FBT, FLW and services. The annual average inflation in the area for 2007
was 2.6 percent compared to 7.0 percent posted a year ago.
 Inflation rate in Areas Outside the National Capital Region (AONCR) further went up
to 4.2 percent in December from 3.5 percent in November as higher rates were
recorded in all the commodity groups except for clothing and housing and repairs
(H&R). Average inflation for the year at 2.8 percent was slower than the 6.0 percent
in 2006.
 Excluding selected food and energy items, core inflation picked up to 2.6 percent in
December from 2.3 percent in November. The annual average core inflation rate was
2.8 percent in 2007, lower than the 5.5 percent in 2006.

 Consumer prices generally went up by 0.8 percent in December from 0.6 percent in
November. This can be attributed to the upward adjustments in the prices of food
items specifically rice, milk and milk products, eggs, fruits and vegetables. The price
hikes in LPG, kerosene, firewood and charcoal in most of the regions along with
 higher electricity rates in selected regions including NCR also contributed to the
uptrend.

Summary Inflation Report Consumer Price Index (2000=100) : January 2008

 The beginning of the year 2008 saw a higher year-on-year headline inflation rate in
the Philippines at 4.9 percent in January from 3.9 percent in December. This was
effected by the higher upward movements in the rates of all the commodity groups.
Inflation a year ago was 3.9 percent.
 Similarly, inflation rate in the National Capital Region (NCR) went up to 3.9 percent in
January from 3.5 percent in December as higher rates were posted in all the
commodity groups except for housing and repairs (H&R) and miscellaneous items.
 Annual inflation rate in Areas Outside the National Capital Region (AONCR)
increased to 5.3 percent in January from 4.2 percent in December due to the
acceleration in the inflation rates of all the commodity groups.
 Excluding selected food and energy items, core inflation rose to 3.4 percent in
January from 2.6 percent in December.
 The month-on-month inflation rate advanced by 1.2 percent in January from 0.8
percent in December brought about by the general upward adjustments in consumer
prices.

Summary Inflation Report Consumer Price Index (2000=100) : December 2009

 The country's year-on-year headline inflation rate advanced to 4.4 percent in

December from 2.8 percent in November. This was effected by the uptick in
the annual inflation rate in the heavily weighted food, beverages and tobacco
(FBT) index. Higher annual price gains in the indices of fuel, light and water
(FLW) and services were also noted during the month. Inflation a year ago
was 8.0 percent.
 The average annual headline inflation rate in the Philippines for the year 2009
was 3.2 percent, slower by 6.1 percentage points than the 9.3 percent in
2008.
 The general level of consumer prices went up at 0.6 percent in December, the same
rate recorded in November. Higher prices of fish, meat and meat products, LPG,
kerosene, gasoline and diesel mainly contributed to the uptick.

Summary Inflation Report Consumer Price Index (2000=100) : January 2010

 The year 2010 started off with an annual headline inflation rate in the Philippines at
4.3 percent, lower than the December rate of 4.4 percent. This was primarily due to
the deceleration in the annual inflation rate in the heavily weighted food, beverages
and tobacco (FBT) index. Slower annual price increments in the indices of housing
and repairs (H&R) and miscellaneous items also contributed to the downtrend.
Inflation a year ago was 7.1 percent.
 Excluding selected food and energy items, core inflation moved up at a slower rate of
3.0 percent in January from 3.2 percent in December.
 Higher price increases in selected food items such as rice, fish, eggs, sugar, flour
and flour products were noted during the month. In addition, rental rates were also
higher in NCR and in some regions. However, price reductions in fruits and
vegetables and slower upward price adjustments in services and FLW items were
noted. These mixed price trends resulted to a lower month-on-month inflation rate in
January at 0.2 percent from 0.6 percent in December.

Summary Inflation Report Consumer Price Index (2006=100) : December 2011

 The country’s year-on-year headline inflation rate continued to decelerate as it

settled to 4.2 percent in December from 4.8 percent in November. All the
commodity groups except furnishing, household equipment and routine
maintenance of the house; recreation and culture; and education indexes
posted either slower annual increment or negative annual rate during the
month. Inflation a year ago was 3.6 percent.
 The average annual headline inflation rate at the national level for the year
2011 was higher at 4.8 percent compared to 3.8 percent in 2010.
 Summary Inflation Report Consumer Price Index (2006=100) : January 2012

 The continued deceleration in the annual increment of the heavily weighted food and
non-alcoholic beverages index further pushed down the country’s year-on-year
headline inflation to 3.9 percent in January 2012 from 4.2 percent in December 2011.
The slowing down of the annual growth rates of alcoholic beverages and tobacco;
furnishing, household equipment and routine maintenance of the house; health; and
transport indexes and the negative annual rate in communication index also
contributed to the downtrend. Inflation a year ago was 4.1 percent.
 Summary Inflation Report Consumer Price Index (2006=100) : December 2013

 The year-on-year headline inflation at the national level jumped to 4.1 percent in
December from 3.3 percent in November as all commodity groups recorded higher
annual increases except communication; recreation and culture; and education.  This
was the highest inflation since December 2011. Inflation a year ago was 3.0 percent
 Meanwhile, the country's annual average headline inflation for the year 2013 slowed
to 3.0 percent from 3.2 percent in 2012

 The heavily-weighted food items such as rice, shrimps, crabs, selected fresh fish
species, fruits, vegetables, cooking oil and common condiments and seasonings
were priced higher during the month. These primarily pushed up the
 Philippines’ consumer prices by 0.7 percent in December from 0.4 percent in
November. Increments in the prices of LPG, kerosene, gasoline and diesel and
higher charges in electricity rates in selected regions also contributed to the overall
mark-up in the month-on-month inflation rate.

Summary Inflation Report Consumer Price Index (2006=100) : January 2014

 The country’s annual headline inflation inched up to 4.2 percent at the beginning of
year 2014 from 4.1 percent in December 2013. This was mainly effected by higher
annual increment in the heavily-weighted food and non-alcoholic beverages index.
Contributing to the uptrend were higher annual growths also recorded in the indices
of clothing and footwear; furnishing, household equipment and routine maintenance
of the house; health; and recreation and culture. Inflation during the same month a
year ago was 3.1 percent
 Price hikes were recorded in food items particularly fish, vegetables, eggs, selected
spices, sauces and condiments, cooking oil, and milk and milk products. Increased
rental rates, higher electricity charges and upward price adjustments in some items
for personal care and effects were also observed in selected regions. All these
factors contributed to the 0.7 percent overall month-on-month inflation.

Summary Inflation Report Consumer Price Index (2006=100) : December 2015

 The Philippines’ year-on-year headline inflation increased to 1.5 percent in

December. It was recorded at 1.1 percent last month and 2.7 percent in the same
period last year. Higher annual rates were registered in the indices of alcoholic
beverages and tobacco; health; transport; and recreation and culture.

 The national month-on-month growth of consumer prices moved up at a slower pace

of 0.2 percent in December. Price increases of cigarettes and alcoholic beverages
were noted in many regions. Higher charges in electricity rates and upward
adjustments in air and ship fares were also observed in many regions during the
 period. These factors however, were tempered by the price decreases in food items
such as rice, corn, fruits, vegetables, calamansi and ginger and the series of price
rollbacks in gasoline, diesel and kerosene during the month.

Summary Inflation Report Consumer Price Index (2006=100) : January 2016

 The year started off with a lower national headline inflation rate of 1.3 percent. It was
recorded at 1.5 percent a month ago and in January 2015, 2.4 percent. This was
primarily due to the annual decline in housing, water, electricity, gas, and other fuels.
Lower annual growths were also noticed in the indices of clothing and footwear;
furnishing, household equipment and routine maintenance of the house; health;
transport; and recreation and culture.
  Consumer prices at the start of the year generally increased by 0.2 percent. This was
primarily attributed to the price mark-ups exhibited in selected food items such as
fish, vegetables, fruits and meat. Cigarettes and alcoholic beverages were also
priced higher during the period. In addition, increased charges in selected medical
and hospital services and upward adjustment in prices of medicines and some
medical products were observed in NCR and selected regions.

Summary Inflation Report Consumer Price Index (2006=100): December 2017

Philippines

At the country level, the annual headline inflation was registered at 3.3 percent in

December 2017. It was the same rate recorded in the previous month. In December 2016,
inflation was pegged at 2.6 percent. Mixed movements in the annual growths among the
commodity groups were noticed during the month. Higher annual mark-ups were posted in
the indices of the following commodity groups:

 Food and Non-alcoholic Beverages (3.5%);

 Alcoholic Beverages and Tobacco (6.4%);
 Furnishing, Household Equipment and Routine Maintenance of the House
(1.9%); and
 Restaurant and Miscellaneous Goods and Services (3.0%).
 Summary Inflation Report Consumer Price Index (2006=100): January 2018

Philippines

The year 2018 started off with a higher national headline inflation rate of 4.0 percent.
Inflation in December 2017 was posted at 3.3 percent and in January 2017, 2.7 percent. The
uptrend was primarily due to the higher annual increment in the heavily-weighted food and
non-alcoholic beverages index as it accelerated by 4.5 percent from previous month’s
growth of 3.5 percent. Moreover, the index for alcoholic beverages and tobacco registered
double-digit annual mark-up at 12.3 percent in January 2018 from 6.4 percent in December
2017. Higher annual increases were also recorded in the indices of the following commodity
groups:

 Furnishing, Household Equipment and Routine Maintenance of the House

(2.0%);
 Health (2.6%)
 Transport (3.2%); and
 Restaurant and Miscellaneous Goods and Services (3.7%).
 Summary Inflation Report Consumer Price Index (2012=100): December 2019

Philippines

 The country’s headline inflation increased further by 2.5 percent in December 2019.
Inflation was observed at 1.3 percent in November 2019 and 5.1 percent in
December 2018.
 The uptrend in the inflation in December 2019 was mainly brought about by the 1.7
percent annual increment recorded in the heavily-weighted food and non-alcoholic
beverages index. In the previous month, food and non-alcoholic beverages index
registered an annual rate of zero percent.
 Likewise, the annual change of the transport index picked up by 2.2 percent during
the month, from 2.4 percent annual decline in November 2019. Moreover, higher
annual increases were noticed in the indices of alcoholic beverages and tobacco at
 18.4 percent; housing, water, electricity, gas, and other fuels, 1.9 percent; and
furnishing, household equipment and routine maintenance of the house, 3.1 percent.

On the contrary, a slower annual mark-up of 2.9 percent during the month was noted in
health index. The rest of the commodity groups retained their previous month’s annual rates
(see Tables 3 and 4).

The annual average headline inflation of the country for the year 2019 slowed down to 2.5
percent from 5.2 percent in 2018.

Relative to their annual average rates in 2018, the indices of the following commodity groups
exhibited lower annual average increases in 2019:

 Food and non-alcoholic beverages, 2.1%;

 Alcoholic beverages and tobacco, 12.8%;
 Housing, water, electricity, gas, and other fuels, 2.4%;
 Transport, 1.0%; and
 Restaurant and miscellaneous goods and services, 3.4%.

On the other hand, the annual average inflation rates were higher during the year in the
indices of the following commodity groups:

 Clothing and footwear, 2.6%;

 Furnishing, household equipment and routine maintenance of the house, 3.2%;
 Health, 3.5%; and
 Recreation and culture, 2.5%.
 Summary Inflation Report Consumer Price Index (2012=100): January 2020

Philippines

The year 2020 started off with a higher national headline inflation rate of 2.9 percent. This is
the highest inflation recorded since June 2019, in which the inflation was posted at 2.7
percent.

The annual rate in December 2019 was 2.5 percent and in January 2019, 4.4 percent.

The heavily-weighted food and non-alcoholic beverages index, which registered an annual
increment of 2.2 percent, primarily contributed to the uptrend of inflation in January 2020. In
addition, inflation in the following commodity groups were higher during the month:

 Alcoholic beverages and tobacco, 19.2 percent;

 Clothing and footwear, 2.7 percent;
 Housing, water, electricity, gas, and other fuels, 2.5 percent;
 Transport, 3.0 percent;
 Recreation and culture, 1.5 percent; and
 Education, 4.7 percent.
(Tables 3 and 4)

On the other hand, a slower annual increase of 2.6 percent was noted in restaurant and
miscellaneous goods and services index during the month. The rest of the commodity
groups retained their previous month’s annual rates. (Tables 3 and 4)

Excluding selected food and energy items, core inflation went up further by 3.3 percent in
January 2020. Core inflation was observed at 3.1 percent in December 2019, while it was
4.4 percent in the same period in 2019. (Table 9)

The annual growth rate of food index at the national level, likewise, increased further by 2.1
percent during the month. Food inflation in December 2019 was 1.7 percent and in January
2019, 5.1 percent. (Table 7)

The following food groups registered higher annual mark-ups in January 2020:

 Meat, 3.4 percent;

 Fish, 8.8 percent;
 Oils and fats, 0.7 percent;
 Fruit, 7.7 percent;
 Vegetables, 8.3 percent; and
 Food products, not elsewhere classifed, 6.8 percent.

SOURCE:
https://psa.gov.ph/price-indices/cpi-ir#
 2. How does inflation affects to your everyday living

Inflation means when the average of prices in the entire country goes up and
the purchasing power of the people decreases. Purchasing power talks about the
ability of people to buy a certain product at a certain cost. Inflation affects my
everyday life by increasing my standard of living such food, transportation in
particular, tricycle fares, jeepney fares and bus fares. Also, higher inflation in water,
electricity, gas and other basic necessities. As inflation rises, the value of money
diminishes more quickly. Being in a middle-class family, we are accustomed to
adjust our living expenses. As inflation increases, much of my parents' income
decreases as well due to cost-of-living changes. As a consumer with rising prices, it
creates more confusion over which prices are good value in the market. It could lead
to us a consumer looking around to the different shops to compare prices in the
market. Moreover, I am not able to purchase the same amount than before because
of rising prices. Whenever inflation occur, we tend to look for the product that has a
lower price rather than buying products that is not needed in our daily lives. It seems
like prioritizing our needs instead of our wants. But sometimes we didn’t have the
choice but to buy that certain product because this is what we truly need or means of
a priority needs for our family. In the midst of this pandemic, I really felt the inflation
especially in the prices of pork and meat. In Metro Manila inflation surged by 77% in
January, driving the 17.1% overall inflation for the meat category, according to the
statistics agency. Imagine, the price of meat arose P400 per kilo and the chicken is
now at P190-200 per kilo. As a practical consumer, I would rather buy vegetables
and fish than buying meat because of its high price. This impact is what we called
the law of demand of supply. When pork and chicken became expensive most of the
us switch to buying vegetables and fish so the demand will increase but if supply
does not increase it can cause the price to increase. Inflation is a market force that is
impossible to completely avoid. We should remain focused on sticking to our
household budget during periods of inflation. Keep our goals in mind at all times.
This way, amid price rises, we will keep our family's finances in good shape.