04/27/2008Why are the prices going up even if the value of Philippine Peso is becoming higheer?
- Why are the prices going up even if the value of Philippine Peso is becoming higheer?
- Best Answer:Philippine Peso value has gone up compared to the US Dollar, but not necessarily in comparison to the Chinese, Euro, or other currencies.
Since the Philippines imports a heavy amount of product from other Asian countries, you would actually need to make your comparisons to their currencies.
Also, the price of fuel has risen, cost of food is higher, there is a rice shortage, all of which fuel your higher prices.