From a news update (linked here): Another series of price hike had just started. Oil? Nope. PUV fare? Yeah, but this is more recent than that.
FOOD. The basic necessity of our life here on earth. As said on the article, the global food prices rose for the 8th time. They also said that the increase that just happened was the highest record in real and nominal terms. What also shocked me is that the increase will be applicable for all the food commodity groups being monitored globally. Of course, this news is very alarming for our country, being a third world. Not only our economical sustainability will be at red alert right now but also–and more importantly–the sustainability of the lives of the Filipino people, specially the poor. They will suffer the most from this since they are the less likely to afford the increased food prices. Moreover, this hike is very alarming for the general public because the rate of the increase is getting higher and faster as we advance to the end of 2011. I am still hopeful that the government or whoever it is assigned for such an issue will be able to think of alternatives to make this increased food price sustainable.
(Blog Entry #6)