The high prices of essential goods continue to challenge the budget of ordinary Filipino households.
How the government will address the escalating cost of living are among the items many hope to hear from Ferdinand Marcos, Jr.’s third State of the Nation Address (SONA) on July 22, 2024.
Josefa De Peralta, a bottle collector from Vigan City, earns P400 daily, which she uses to feed her family of six. This amount is barely enough for her to make ends meet.
“Gulay na nga lang nagmahal na. ‘Yung nakasupot tig-P50. Hindi na kami nag-aagahan kasi walang pera, mahirap lang kami,” she said.
According to the Philippine Statistics Authority (PSA), the inflation rate in Ilocos Sur rose to 2.2 percent in June 2024 from -2.4 percent in January 2024.
The main contributors to the rise include the increased costs of water, electricity, housing, and fuel products.
“Ang iniisip kasi natin [ay] tumaas na ‘yung presyo, pero hindi lahat ng goods and services ay tumataas. So may mga nagko-contribute kasi… so, depende kung gaano ‘yung hila ng bawat commodity group,” Jeanette Marzan, Chief Statistical Specialist at PSA Ilocos Sur, said.
The impact is evident in the diminishing value of the peso. Compared to 2018, the purchasing power of one peso is now equivalent to only 80 centavos.
“Ibig sabihin nito [ay] ‘yung nabibili na goods and services noong 2018 na P100, ngayon ay mabibili na ng P125.5,” Marzan said.
Political analyst, Professor Stephen Tabios, said it is too early to judge Marcos’ performance relative to the inflation rate.
“Bigyan natin siya ng pagkakataon para isakatuparan ‘yung mga pangako niya kasi dalawang taon pa lang siya, magtatatlo. Alam mo naman ang gawain ng pangulo, hindi lang iisa o dadalawa. Kaya sabi sa ingles, let’s give him the benefit of the doubt,” Tabios said.