By Rusty Ferguson on November 8, 2008
Philippine Inflation Slows For Second Month
Bloomberg, The Freeman, and many other sources are saying that Philippine inflation has fallen to 11.2% as prices on services and commodities such as gasoline and food have fallen. However, the price of gasoline is considered risky as it is highly volatile commodity. Gas prices have fallen 50% since May which were a major reason for the Philippine Central Bank’s raising of interest rates in recent months. A move intended to stem inflationary pressures.
Growth of the Philippine economy is expected to be slower this year and likely less than the 5% rate the government had hoped for. Most put the GNP below 3.5% for the year of 2008.
The Philippine Central Bank meets on November 20th where it may decide to adjust the interest rate but indications are that the bank will take a wait and see approach for now.
Slower inflation is good for both for the expat living In the philippines and the Filipino as well. The stronger dollar is probably harmful for most Filipino but advantages for the American expat living in the Philippines.
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Posted in American Expats In the Philippines, Expat Finances | Tagged Expat Finance, Inflation, Philippines Economy
I'm an American expat having the time of my life living in the Philippines.
I'm becoming a bit of a jack of all trades. I grew up in Jackson, Ms where I graduated with a bachelors degree and a major in Accounting. Though there is no official designation of such, I have a strong educational background in finance as well.
I worked as a revenue agent and computer analyst for the IRS for almost 20 years. I'm retired from that and my pension makes it possible to travel as my income goes with me. I am also a webmaster and it seems, I'm becoming a writer, kicking and screaming all the way. When it comes to proper English, I'm not so good. When it comes to putting emotion and ideas on paper, I've been told for years that I am exceptional at it.
I also love photography and playing with computers which fits in well with my new lifestyle. Like I said, I'm having the time of my life in the Philippines. I look forward to exploring all of the country as well as some nearby countries.
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