LAST week, the Philippine Statistics Authority (PSA) reported that inflation went down to 4.7 percent in July from 5.4 percent in June and the high of 8.7 percent in January. Average inflation for January to July was still at 6.8 percent, a far cry from the government's target of 2 to 4 percent.
The PSA also said that inflation among the bottom 30 percent of Filipinos remained high at 5.2 percent. This simply means that the poorest of the poor suffer more than the rest of us.
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