|
Thursday, December 18, 2003
Inflation to rise 5% in 2004 due to polls: Neda 11
By Christie Enriquez-Uayan
NEXT year's inflation rate is expected to rise by five percent due to the national elections in May, according to Chief Economic Development Specialist Noel Quiratman of the National Economic Development Authority (Neda) 11.
"The trend every election year is inflation rate would rise because of an increased spending," he said, adding that the rate would be highest during the first five months of the year.
Food, fuel, light, paper, printing materials and print and TV advertisements are most affected, said Quiratman.
He added rates will be "tapered off" to about three percent during the rest of the year as a new president is elected into office.
The estimated figure, however, is lower than the inflation rates experienced by the country in 1992 and 1998, he said. Drastic price increases in 1992 were a product of the Gulf war, while the high inflation rate in 1998 was caused by the Asian financial crisis, Quiratman said.
Last year, the highest inflation rate in the region was pegged at 5.3 percent, occurring in September.
This year, the highest inflation rate was felt in February with 3.7 percent.
Quiratman said increased spending in school supplies and other materials would also pull up the national inflation rate, especially in May and June.
(December 18, 2003 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[ return
to top ]
[ home
]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
