Today the Philippine Statistics Authority (PSA) released the August 2021 inflation rate -- it's 4.9% -- highest since Dec 2018.
Malacanang, NEDA, IATF officials, knew this yesterday. Possible it's the main reason why they annnunced yesterday to relax the lockdown from MECQ to GCQ despite 22.4k cases yesterday. Things are worsening, not improving in the econ. Sustained lockdown means continued supply disruption as people mobility -- farmers, fisherfolks, manufacturers, wholesalers, retailers, etc -- remained restricted and politicized (My tractor caretaker told me that it's difficult to buy spare parts in other towns bec of various checkpoints). And prices go up.
Meanwhile, here is the forecast of 16 economists polled by BusinessWorld.
As of today, four other East Asian countries have announced their August 2021 inflation rates. None of them have 4% or higher.
https://tradingeconomics.com/country-list/inflation-rate
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See also:
Macroecon 9, Why we should return to the office, June 30, 2021
Macroecon 10, Inflation rates June 2021 of the US, PH, July 14, 2021
Macroecon 11, PH budget 2022 initial numbers, July 28, 2021.
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