Consumer prices: A tale of two business owners

Consumer prices in the Philippines are supposed to be growing at a much slower pace than its neighbors during six-year term of President Benigno Aquino III.

Two businesswomen share their views on this.

The past six years have not been particularly great for small business owners in the country, given the increase in commodity prices.

“Ayoko kay Aquino, eh. Lahat halos tumaas sa kanya... Wala nang hindi itinaas,” sari-sari store owner Norien Mogro said in an interview. She has been running her store in Teachers' Village in Quezon City for more than 10 years.

Since Aquino was elected to the presidency in 2010, prices of consumer goods in the have increased at an average of 3.1 percent a year. The Philippine Statistics Authority (PSA)  reported an inflation rate of 1.6 percent in May from 1.1 percent in April and 1.4 percent in May 2015. 

Former Socioeconomic Planning Chief Arsenio Balisacan noted the uptick in prices is slower compared with neighboring countries.

But Mogro is adamant that prices must be lowered for the benefit of the poor who could not afford even the basic commodities.

“Sa pagkain sana, babaan konti kasi hindi afford ng mga mahihirap din, eh. Okay lang din sana siya pero mas gusto ko sana na 'yung pagod may kapakipakinabang naman...

"Ngayon, kahit anong sikap mo... pagod na pagod ka. Lahat na pinasukan ko, eh, lahat ng negosyo... para maranasan ko naman 'yung medyo ginhawa. Wala, eh,” Morgo said.

Relatively stable

For her part, Miriam N. Gayados, a rice dealer in Baguio City, noted the gains under the Aquino administration – that prices have been relatively stable in the past six years.

“Nagawa nilang ma-stabilize ang presyo at nakapag-distribute pa ang gobyerno ng magandang bigas,” she said.

“Para sa akin mas maganda na may government rice para hindi maabuso at ma-control ng iilan ang presyo ng bigas... Para naman 'yong mga low-income na mamamayan ay hindi magutom at lalong mahirapan,” she added.

Moving forward, both businesswomen are optimistic about the incoming administration of President-elect Rodrigo Duterte.

“Ngayon siguro baka maayos na... Kailangan ng pagbabago talaga,” Mogro noted.

Earlier this month, the Bangko Sentral ng Pilipinas (BSP) slightly lowered its inflation forecast to 2 percent from 2.1 percent while maintaining the 3.1 percent outlook for 2017 and 2.6 percent for 2018. – VDS, GMA News