Inflation rises to 3% –NSO

MANILA, Philippines—Inflation rose to  3 percent in April 2012 from 2.6 percent in March on the back of increases in prices of most commodity groups, including the heavily weighted food basket, the National Statistics office said Friday. Prices increased faster in areas outside the National Capital Region than within.

The 3-percent growth in inflation in April was the highest since February but still in the lower end of the government’s target range of 3 to 5 percent.

The inflation rate in the NCR rose 2.5 percent in April, slower than the 2.7 percent growth rate in March, due to slower gains in the indices for housing, water, electricity, gas, and other fuels and transport.

Year-on-year, inflation in areas outside the NCR went up 3.2 percent in April from 2.6 percent in March with higher annual upticks in the prices of all commodity groups except in the communication and education indices.

Earlier, the National Economic and Development Authority noted the slower pace of inflation growth in March (2.6 percent) from February (2.7 percent) and January (4 percent) but said there may be “slight” hikes in the year-on-year inflation rates in the coming months due to volatile oil prices. Still, NEDA said, the inflation rate for full-year 2012 may stay within target.

 inflation is a rise in the general level of prices of goods and services in an economy over a period of time When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy.

opinion: 

 Just wonder where thse price investigators buy their foods and goods.
Just common foods like pork belly went up in just 2 years from 125 to now 195 pesos and include now a lot of bones. Which pig has bones at the belly? Soup bones in the same time from 45 to now3 95 and up, just cabbage from 40 up to 90, depending from where. And a lot of packed and canned goods have now less content per unit, small meat cans arte soon like those for kids toys. Even cats dry food is up for a 7 kilo ppack ftom 750 to 1070, no matter it is mainly corn and animal digest, means cooked died, euthanized and killed animals.

might be the effect that p-noy approved of new bills to be created and flooding of old and new bills are circulating through the country now.