Monday, March 31, 2008

Real Economic Indicator

“We will fight to feed the poor, improve job creation and do everything in our power to mitigate the global forces increasing the price of commodities like oil and rice,” was one of the emphatic points of PGMA when she spoke before the participants in the 11th Credit Suisse Asian Investment Conference (AIC).

Back home the price of rice increased by P2 or P3 per kilo. That is from the usual P26-28 per kilo of quality rice in the market, price ranges now from P28 to P30+ per kilogram and many speculated that it could jump further to P40 per kilogram. Arthur Yap, secretary of Department of Agriculture, readily blamed this to oil price increase (Php46 per liter for premium gasoline) and high cost of farm inputs. Not rice shortage.

With this reality, the poorest of the poor (majority of our population who have not improved their incomes or those who are unemployed or have no enough income sources), would find it even harder now to eat one meal a day.


Melanie said...

You have done a great job on your cartoons.

spliceanddice said...

If indeed the price of rice by the half of the year jumps to 40 a kilo, and if indeed there is a looming shortage of rice (which the administration vehemently denies while facts continue to stare them right in the face), I wonder how the militant and the poor sectors will react, or to what extent they will be reacting come first of May.