As the Philippines is greeted by a gruelling inflation rate of 6.4% this August, its effect on the lifestyle of the Filipinos can’t be denied and it deems interesting to also look at how the students are holding up.
The inflation rate, being a measure of the continuing rise of general price level relative to availability of goods and services, that everyone experiences now is mainly driven by fish and seafood, fuel and lubricants, and bread and cereal as per the statement by the Philippine Statistic Authority.
On the other hand, the Banko Sentral ng Pilipinas said that it will be at 4.6% average this year and will only slow down on the year 2019.
With the value of Philippine Peso dramatically dropping, the cost of living altered drastically, also affecting the quality of students’ life. Aside from the increased cost of meals bought by the students, transportation, school supplies, expenditures, and even house rents are affected by inflation.
Nikka Alyssa Guevarra, the President of Academic Scholars' Alliance of Adamson University, was asked on how the event has affected her and she stressed that there is a great need to learn budgeting by allocating money for only the necessity, which she is now struggling with.
“Need talaga i-budget allowance ko, hirap na hirap ako sa inflation. Yung mga pagkain na nabibili ko kaagad dati, kahapon lang, kumain ako ng kwek-kwek na dati P2.50 lang, hanggang sa naging P3.00, ngayon Php4.00 na.” (There is a great need in budgeting my allowance, as I’m having a hard time with the current inflation. Just yesterday when I ate deep fried quail eggs that cost P2.50 before, it rose to P3.00, but now it’s already P4.00.)
She also added, “P70.00 pamasahe ko, P50.00 sa food, at nagbabaon na ako (ng) extra food para di na ako bibili sa labas.” (I allot P70.00 for my transportation, P50.00 for food, and I now even prepare packed lunches so that I won’t need to buy outside.)
Another klasmeyt Justine Aubrey Marcelo, the Vice-President of AdU-Pulitika, also expressed his concern regarding his health and lifestyle and on the ever increasing transportation fees:
“Di magiging maganda ang performance ko sa school kapag ‘di healthy ang lifestyle ko lalo na scholar ako at student leader. Idagdag pa dyan ang presyo ng pamasahe, P100.00 nagagastos (ko) everyday sa pamasahe alone tapos P50.00 naman sa food.” (My performance in school will surely be poor when I’m not healthy especially that I’m both a scholar and a student leader. Another thing is the increase on public transportation fees, that I have to spend up to P100.00 a day then another P50.00 for the food.)
As the Filipinos strive to adjust and ultimately to survive in these dire times, many of them depend on prayers and divine providence so they could endure and eventually surpass the onslaught of rising commodity prices. With this, all are expected to be wiser in their day-to-day transactions and learn new ways of mustering additional funds, as there could be an amended train law to take root in the Philippine socio-political sphere in the last quarter of 2018.