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Inflation, unemployment and economic growth
Inflation, unemployment and economic growth
Inflation, unemployment and economic growth
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Introduction The Article discussed inflation in the Philippines this year, its effect to the economy and how the country handle it over time. The analysis looks into the macroeconomic issues that affects economics. It focuses on the main points about inflation. This will cover how inflation are being measured, the effects on demand and supply and analyse the relationship of inflation to the Philippine economy. Analysis All government’s ultimate goal is to maintain a strong and sustainable economy but there are so many factor to consider in making it work right. Economic is a complicated matter but is very important. The government is there to look after its people and one of their goal is to provide everyone a better/higher standard of living. In this report we would like to look at the Philippine economy using the concept of Inflation and will extend the report to the importance of GDP Inflation is defined as an increase in the general level of prices for goods and services. It is measured as an annual percentage increase (Hubbartd, Garnett, Lewis, & O’brien, 2010). As inflation rises, the value of the money you own, buys a smaller percentage of a good or service. Philippine inflation rate eased to 4.1%, within the central bank’s inflation target of 3 - 5 %. Despite supply shock in the later part of 2013 due to typhoon in November the government was able to cope up and a higher inflation. We saw that improving inflation rate was brought about the improvement of the government finance. Initiatives like the improvements in tax collection and spending efficiency. There is also a growth in public spending supported by strong growth in infrastructure spending even though there are slowdowns in other spending categories. An in... ... middle of paper ... ... the achievement last year of investment grade sovereign credit ratings and improvements in several global competitiveness indices. Works Cited Hubbard, R. G., Garnett, A., Lewis, P., & O’Brien, A. P. (2010). Essentials of economics. French's Forest, N.S.W: Pearson. Larano, C. (March 2014). Slower Inflation Gives Philippine Central Bank Reprieve. The Wall Street Journal. Retrieved from http://blogs.wsj.com/economics/2014/03/05/slower-inflation-gives- philippine-central-bank-reprieve/?blog_id=8&post_id=23599&mod=wsj_valettop_email Layton, A. P., Robinson, T. J. C., & Tucker, I. B. (2012). Economics for today. South Melbourne, Vic: Cengage Learning. World Bank. (March 2014). Philippine Economic Update. Retrieved from http:// www.worldbank.org/content/dam/Worldbank/document/EAP/Philippines/Philippine %20Economic%20Update%20March%202014.pdf