Implasyon at mga Pangunahing Konsepto

Study Notes

Implasyon (inflation) refers to the overall increase in prices of various goods and services in an economy. (The Economics Glossary)
Implasyon is the rise in prices and deflasyon is the fall in prices. (Parkin and Bade, 2010)
When there is an overall increase in the prices of goods in an economy, the condition of inflation occurs. (Text)
This affects a large number of products including basic necessities such as rice, sugar, chicken, meat, fish, and others. (Text)
The Consumer Price Index (CPI) is commonly used to measure inflation. (Text)
The CPI measures the change in the overall price level of a basket of goods and services that is typically consumed by a household in a year relative to their prices in a base year. (Text)
The Philippine Statistics Authority (PSA) is the primary government agency responsible for collecting data and calculating the CPI. (Text)
There are other price indices such as the Wholesale Price Index (WPI) and the Producer Price Index (PPI). (Text)
The Gross National Product (GNP) Deflator is another economic indicator that measures the impact of inflation on the gross national product for a given year by converting its output to a constant price level based on a certain base year. (Text)
Inflation rate is the percentage change in the price level of goods and services in an economy over a specific time period. (Text)
Inflation rate is calculated using Corrected Factor Cost or Fisher Ideal Price Index method which is (New Price - Old Price) x 100 / Old Price. (Text)
For example, the price of face masks which used to cost P90 per piece before the pandemic increased to P150 per piece as per the government's price regulation making the inflation rate of face masks 66.66%. (Text)