I could still remember during my grade school days, a bottle of soda would cost around two pesos; a jeepney ride around one peso; and a kilo of rice for just five pesos. Today, that bottle of soda costs around P10; that jeepney ride for seven pesos; and that kilo of decent (non-NFA) rice for P33.00.

 

 

Price increase is so deeply ingrained in our subconscious that we have accepted the fact that it always happen. And when that kilo of rice goes up to P100.00, we wouldn’t be surprise at all. This increase in the overall prices of commodities is called “inflation”. read more...