As expected, as a result of the fuel price, the consumer prices rose 7.7 percent as compared to last year. And with that, inflation is set to increase as well. This, according to this Bloomberg Asia report, is the highest inflation rate in the country in 26 years.I guess some economic adjustments will follow. Let's hope the adjustments are not merely reactionary as most knee-jerk reactions are wont to be. I hope there would be enough foresight on the policy-makers to come up with measures that are long-term. What's happening in the world today is not covered in Economics 101.
No comments:
Post a Comment