Never ending inflation for the Filipinos

 I marvel at the stories of my parents and grandparents that way back on their times, the cost of one banana cue was just 5 to 10 centavos. They also said that it is very far from the prices of everything nowadays. What they said were true. The prices of everything nowadays are continually increasing. In economics, this is called inflation. In connection to this, Michelle Remo of Philippine Daily Inquirer wrote an article entitled “Private economists see higher inflation for 2011

“MANILA, Philippines—EconomistS from the private sector have raised their inflation forecast for the year, but maintained that the increase in prices of goods and services would likely remain below the government’s target.
This was according to results of the survey conducted by the Bangko Sentral ng Pilipinas on the latest inflation outlook of private-sector economists, whose outlook on price movements somehow influences inflation expectations of the general public.
Results of the survey, conducted by the BSP in the first quarter, showed that the average inflation forecast for 2011 by private-sector economists stood at 4.9 percent.
This was higher than the 2011 inflation forecast of 4.1 percent shown in the survey conducted in the fourth quarter of last year.
Nevertheless, the latest inflation forecast was a hairline below the 5-percent ceiling targeted by the government.
The economists surveyed by the BSP were from 15 commercial and universal banks and think tanks.”


Should the Philippines continue to suffer inflation? When will this inflation end? When will we experience deflation? What are the intelligent strategies that our government is doing to lighten up inflation? These questions are bouncing in my mind that I think only the government and the economists can answer.

If the inflation will continue and the standard of living of the Filipinos has not improved, I could say that this will cause hunger, death and more burdens to the Filipino people. Many people will continue to complain. The expected hope of many will be dimmed to the point that no light could be seen.  I hope the government would work more on this problem.