INFLATION; the significant effect on the cost of living, the cost of doing business, and every other facet of the economy.
Based on the Philippine Statistics Authority as of 05 December 2017, the annual headline inflation at the national level slowed down to 3.3% percent in November 2017. Higher Annual Increment were noted in the indices of housing, water, electricity, gas, and other fuel; transport; recreation and culture; restaurant and miscellaneous goods and services. Source: Philippine Statistics Authority, https://psa.gov.ph/ So for the general public, what is inflation? The value of your peso or dollar (or any unit of money) 20 years ago do not have the same value today. Why? It's because of Inflation. Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Central banks attempt to limit inflation, and avoid deflation, in order to keep the economy running smoothly. (Note: Deflation is a contraction in the supply of circulated money within an economy,...