Inflation hits 12.2 % in July
By Jun Vallecera
Aug. 6, 2008
PRICES moved at their fastest in 17 years, averaging 12.2 percent in July and boosting the likelihood the Bangko Sentral ng Pilipinas (BSP) will again tighten the monetary screws in response.
Latest data from the National Statistics Office (NSO) show key commodity groups rising with the exception of the fuel, light and water index.
It did not surprise BSP Governor Amando Tetangco Jr., however, who said in a text message: “As expected, inflation in July recorded another increase following the additional shock of Typhoon Frank on food commodities.” (The rest here)
So da hu itong Cabinet official na 'to who keeps insisting that commodity prices are under control? Hindi ba naggo-grocery ang Misis mo ha?!
And betcha by golly waw! I thought there's no rice shortage? So how come the poor are still lining up at the NFA warehouse along Visayas Ave. The queue is soooooo long, it winds into a sidestreet! Josh ko pow! I don't remember lines for food even during the Marcos administration (anyone older guys out there can confirm that these long queues for rice has never happened until this administration? and I'm not talking about Russia ok?)