It’s two months in a row we’ve been hitting double digit inflation rate. And with the rate things are going, we can expect double digit inflation until the end of this year. Though the price of crude oil in the world market has significantly gone down from $147 to $118 in past 3 weeks, we’ve yet to feel the impact. By far, it was just Php1.50 rollback for local gasoline prices — hopefully, more rollbacks to follow soon. (paging Shell, Chevron, and Petron!)
I think more and more filipinos are feeling the pinch, and have changed their spending habits. If you haven’t, then you’re headed for a big trouble. One big change is that most people are now utilizing the public transport system, and driving less. Most major routes have lesser traffic even during the rush hours.
As common people, inflation is something we can’t avoid. We just have to cope with the situation smartly.
Expect more interest rate hikes from the Central Bank — hopefully commercial banks can now offer better rates. Just yesterday, PS Bank is offering 7% p.a. for 5-year placement Time Deposit, with monthly out interest, for a minimum of 50K. Not bad, probably the highest rate among commercial banks. Though, i still prefer Rural Banks for TDs 
OFF TOPIC: I have shifted my interest back to the Stock Market. Some stocks have very compelling prices, especially for long term goals. My stock picks, MEG (Megaworld) and MBT (Metrobank). I’m not overly aggressive, but started bargain hunting for quality stocks. PLTL (Piltel) is declaring dividends this August — good news to their shareholders. To know more about online stock trading, visit www.citiseconline.com
