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The Domino Effect: Failing and Falling

With just one trigger— everything will fall into despair exactly as dominoes fall one after another. The rise in the industry including the prices of local products and supplies, typically the rise in everything wherein the status of the country is filled with worry and fear resulting to drain every progress that the country can give. Will this situation remain until the end?

According to the Asian Development Bank (ADB), it is expected for the economy to increase by 6.0% this year. Having local supply and the rise of prices leads the country to face a high inflation. This just not affects the country itself but also its people especially when it comes into their livelihood—having difficulty finding work or maintaining the security of their finances, with inflation serving as both one cause and a result of the pandemic. 

Sudden cut off.

As a student myself, I was not able to deeply understand how serious inflation is until my mother stated how difficult it is to adjust the price in every product she sells to not lose huge consumers and to gain even just a little amount of money. Looking into reality, every business starts into the starting line— filled with the difficulty on how to start a business, on how to designate the prices, and what are the ways to fully engage with the customers. Then the process will continue until every businessman is fully adjusted to the lifestyle of having a business, but with just a small rise gives a huge effect resulting in a downfall. The increased cost of raw material would be the one of the reasons for every businessman to have difficulties in managing the flow of their business causing a decrease in the consumers and increasing the interest rate leaving them weeping to survive and maintain.

Ravaged abodes.

"I only make 300 to 400 pesos a day, and it is not enough to cover for our family." Poldly Baltazar, a jeepney drive stated with a family of 6 as he was having the hard time to do rounds in his job and to gain a good amount. As the nation is in the middle of battling the inflation, it is evident that the struggle is much more serious for the homes that are not financially stable. The crisis is reducing the power of the middle class and targeting low-income households to purchase supplies as inequality and poverty will be the reasons to lose control. In addition, having these impact and stability to waver could fuel the risk it can give. Will this turn into a cycle with a neverending pain and misery? The way I view this situation earns a long sigh as the progress to help ruined homes seems to be close yet so far.

Powerless consumers.

As inflation keeps on going and the progress seems so slow, it also slows down the process of a business. Rising prices reduces the purchasing power of some consumers, and this erosion of real income is the single biggest cost of inflation. This distorts the power over time for consumers and payers of fixed interest rates. Having a high class consumer will not have a problem with the changes because of the inflation, also being in a middle class consumer can notice the changes and its effects it can give— normally when it comes to buying products, there are no worries because of the prices but as the economic growth increases the prices also increases resulting to consumers to lessen the products they are buying or to limit, much more to the low class consumers. Despite the ranking on how wide the range of their financials is, inflation affects all that is why the need to maintain and to look for a solution will help to lessen the worry of the people. 

Looking into all of this, inflation seems to be inevitable. The Philippines' economic performance is thought to be at jeopardy from the pressure it gives to all aspects. Notice the distressedness in everyone's faces receiving news about the increase of percentage about inflation, causing them to continually wonder how they will be able to maintain their way of life in the face of another price increase. Having this status, government should take a step to assess the starting point to this problem, give a thorough investigation for them to be able to make a solution that could give a breath of relief to those who are having trouble with the issue. Join voices and strength to be recognized, and if this will go on no one will fall into despair