An item in one daily reported that the public approval rating of the President has declined significantly, and one factor, among others, perceived to have influenced the survey result is the rising prices of basic goods and commodities. The basis for this assessment is likely to be correct. As a consumer, I do my own house-hold marketing, and the prices of basic consumer goods, mainly food products and other necessities have indeed gone up. The family budget for every consumer needs to be stretched. Noticeable also is the shortage of some basic food staples, which is driving up the prices. This is the reality on the ground. As early as July this year, Eastern Samar Representative Ben Evardone, filed a resolution calling for a Congressional investigation of the escalating prices of basic goods, by the Joint Committees on Trade and Industry and Transportation. The intention is to look into the causes of price increases which seem to be no longer dictated by market forces, but perhaps artificially driven by unscrupulous traders, or the result of regulatory tax or import policies. According to the good Congressman the unabated rise of basic goods, directly deplete the already meager earnings of the masses and is hurting the minimum wage earner. We are waiting for the result of this investigation. It does not augur well for the country to have achieved the reputation, of having a higher growth rate in Asia and yet this economic gains have no impact at all to greater number of our people.
Posted on: Wed, 13 Aug 2014 07:47:02 +0000
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