uncertainty

nflate a balloon with helium and it will rise but be careful, hold it tight, because you might lose your grip it will go far away and you’ll lose your sight. Currently, this balloon might be the inflation of our country.

In fact, the Philippine inflation rate rose up to 7.7%, the highest recorded rate nearly 14 years that is likely to rise further according to Philippine Statistics Authority. A quite shocking information to the consumers that is most likely driven by the current situation where every goods, services, and basic necessities for living are bought at a higher fee. Through the years, we suffered from numerous circumstances that leads to consumers trapped in poverty that even if they earn more the chance to raise from famine is low. Some affected aspects by inflation in our life include: HIGH FOOD PRICES. Food is one of the basic necessities a humankind needs to survive and people spend a high proportion of their income on food. When prices rise, food becomes unaffordable and inaccessible to people who are already struggling and pushing them more on poverty. Food inflation in the Philippines averaged 4.79 % from 1995 until 2023, reaching an all-time high of 17.30% in July of 2008 and a record low of -0.90 percent in September of 2019. Increase of food cost pose a serious risk to global economic recovery, which will less to everyone unable to raise from the major economic problem, the poverty. EXPENSIVE IMPORTED ENERGY. Inflation of transport costs creates economic tensions with serious consequences and pushes companies to find alternative solutions. Here in the Philippines, the energy generating is from foreign which causes the high price hike of vehicular fuels. As the fuel gas cost high the transport fee will also increase affecting the commuters specifically the students will suffer more.

Inflation has different effects on different sectors of the economy, but one sector that is particularly affected by inflation is the insurance industry. Due to the high rate of every goods and basic necessities. In some cases, consumers may be forced to drop their coverage altogether due to the increased cost. No one knows how exactly how much prices will rise in the future or how those price increases will affect their ability to pay

Inflation is all about paying more to the necessities and services that you used to afford at a lower cost. And most of the time it’s hard to find a way to cope with the rapid increase of inflation that is inevitable. Inflation is one of the significant

And for us to not rely on the inflation that is a global problem, we can seek for an alternative way for us to regime in this inflation. Seek for ways that can help us to overcome little by little in this big impact. We should be innovative in a way that will give us the means to make a living out of simple ways.

This inflation should not hinder us from living a great life, we should be more responsible and discipline in terms of budgeting our incomes. Live a good life and less worry.