The weekend allowed us to spend some time with our dearly departed, reminding us of that old adage – the only thing certain in life is death. The only question is when.
Paradoxically, the certainty of death only magnifies how uncertain life truly is.
The morning after spending time with the loved ones who have gone ahead of us, here we are again back to the daily grind, to earn a living, survive and hopefully thrive.
Indeed, we, the living, must continue living, but in this nation of 115 million, it is never easy.
The two remaining months of the year will bring in some festivities for sure but the future remains uncertain. We are living in uncertain times, no doubt, made more uncertain by the still unresolved flood control corruption mess.
Rising food prices
The most immediate problem we’re facing is increasing prices of basic commodities, especially food. Every economic class, except the rich, is feeling the pinch.
According to the government’s Oct. 20 to 25 price monitoring, Kadiwa rice is selling at P43 per kilo, unchanged from prior month but local galunggong is selling at P337.27 per kilo, up from P320 last month. Squid is now selling at P456 per kilo from P444 per kilo the previous month while cooking oil is now at P36.25 per ml from P35.72 per ml the previous month.
There are many other goods whose prices have gone up.
Whether you shop in the grocery stores, wet market or your friendly neighborhood talipapa, you will surely notice the higher prices.
According to the Philippine Statistics Authority (PSA), inflation rose to 1.7 percent in September, the fastest in six months, driven mainly by higher prices of food. These aren’t abstractions – these are the numbers lining our receipts and the burdens on everyday households.
And it’s not likely to ease soon.
In yesterday’s paper, The STAR reported that economists expect headline inflation to have crept higher in October due to pricier food and utilities, sustaining the uptick in September.
Estimates from analysts showed the growth in consumer prices would be higher than the 1.7 percent recorded in September although still below the two percent low-end target of the Bangko Sentral ng Pilipinas.
The PSA will release the official October inflation data tomorrow, Nov. 5.
BPI lead economist Jun Neri, for instance, said headline inflation likely rose to 1.8 percent in October, reflecting higher prices of rice, vegetables and fish. Additional upward pressure came from higher electricity rates and a weaker peso, although these were partly offset by lower prices of meat, fruits and oil.
‘Going forward, upside risks to inflation are building as favorable rice base effects fade and the extension of the rice import suspension through year-end adds further pressure,’ Neri said.
As if this isn’t enough, inflation is expected to go even higher next year.
Neri expects inflation to hover around two percent through December before edging above three percent in the first half of next year, driven by base effects, wage increases and possible supply disruptions linked to trade policy.
The uptick in food prices contributed to the September number as food inflation quickened to 0.8 percent during the month from 0.6 percent in August.
Gasoline, too
Aside from rising food prices, local oil prices will also go up effective today, with diesel prices making the biggest jump at more than P2 per liter.
Seaoil, for instance, said on Monday that gasoline and kerosene would also increase by P1.70 and P2.10 a liter, respectively, starting Nov. 4.
Desperate to push his popularity ratings up, President Marcos has directed the Department of Trade and Industry to enforce a price freeze on basic and prime commodities until the end of the year to ensure price stability during the holiday season.
Of course, price freezing is always costly in the long run because it goes against the nature of a free economy where prices reflect supply and demand and signal production in proportions that the consumers want or need.
Instead of fixing prices, President Marcos must help local manufacturers so they can become more competitive. Build more farm-to-market roads so goods can reach consumers faster and cheaper.
You know what else will help Filipinos deal with the high cost of living? Marking sure that state funds are used wisely instead of being stolen.
Every year our budget goes up but our economy barely grows, if at all. A huge chunk of the money goes to corruption and we know that loud and clear now, because of the flood control scandal.
To really teach these thieves in government a lesson, the perpetrators must be brought to justice. That is the only way through this.
More disturbing than the rising cost of living in the country is the quiet anxiety that now shadows even the most ordinary tasks.
We live in unsteady times for sure.
We can only hope that the Marcos administration will step up and help the citizens – especially the marginalized, the minimum wage earners, those who live a hand-to-mouth existence, the elderly and everyone else desperate for help.