As of writing, Filipinos are ultimately alarmed with the inflation that’s happening. Everyone is extremely distressed with everything that’s going on. They put the blame on our dearest President without knowing what it actually is and why it’s happening. To say it simply, inflation is the sudden hike in the prices of goods and commodities while the currency value decreases. This puts pressure especially on workers because the amount of what they earn do not change but the amount of goods skyrocket. But how can we overcome inflation? Is this social dilemma escapable?
Taking it in general terms, inflation is the ultimate change of prices of goods which decreases the value of the purchasing power or the currency. The inflation rate, however, is the increase in prices over a calendar year. In reality, there are many different factors affecting the inflation rate not just the President. This is the common misconception that Filipinos have of our leader. They think that because of what he’s doing and because of what he said, the prices of the goods and commodities soar.
An economist mentioned that with the inflation rate we are experiencing, OFWs should send 20 to 30 percent more than what they’re normally sending to brush-off the inflation rate.
One factor that is not often looked at is the supply and demand. If the demand exceeds the supply, this makes sellers big-eyed when it comes to pricing their goods. Therefore, we can tell that the prices don’t go up just because the President said so.
Can we overcome inflation?
Like any other global and economical situation, inflation is something we can cross out. There are a few things we can do in order to achieve an inflation-free environment. Even though inflation is something that is globally recognized, we can personally try and maintain things for us not to be negatively impacted by it.
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