Inflation rate in Philippine economy
Inflation Rate in the Philippine Economy Inflation is a significant economic indicator that affects the overall economic stability of a country. It measures the rate at which prices of goods and services increase over a certain period of time. In the case of the Philippine economy, inflation rate plays a crucial role in determining the purchasing power of consumers, the profitability of businesses, and the overall economic growth of the country. In recent years, the Philippines has experienced fluctuations in its inflation rate, with some periods of high inflation causing concerns among policymakers and investors. The inflation rate is calculated by measuring the percentage change in the consumer price index (CPI), which reflects the average prices of a basket of goods and services purchased by households. One of the main factors contributing to inflation in the Philippines is the rise in oil prices, as the country heavily relies on oil imports to meet its energy needs. As oil pr...