By Joann Manabat

The inflation rate in July this year has increased to 6.4 percent becoming the highest recorded inflation in our country since October 2018. In June, it was at 6.1 percent while the record shows a 3.7-percent inflation in July last year.

Most micro, small, and medium enterprises have started to rebuild, recover, and recapture their market or attract anew. Various businesses focus on how to survive the economic challenges brought by the COVID-19 pandemic and now the rapid increase of the inflation rate. Homegrown meat processing company Mekeni Food Corporation, for example, has become an inspiration to its employees as well as other businesses as it continuously adapts to these changes.

During the Capampangan in Media Incorporated (CAMI) weekly media forum held Friday, August 5, Mekeni President Pruds Garcia said from all the challenges their company has faced, they have always “bounced back” and “moved forward”. He added that through the challenges, they have become more resilient as they continue to keep up and adapt for their business to continue to thrive.

The Philippine Statistics Authority said the main source of the upward trend of the July 2022 inflation was food and non-alcoholic beverages followed by transportation due to their higher annual growth rate leading to the increase in commodity prices. This will directly impact everyone, like a threat in every average Juans.

Garcia also said the inflation rate may continue to rise not only in the country but also globally. The price of sugar in some supermarkets has reached P100 per kilo already. Garcia noted that Mekeni will carry on by minimizing the production costs and overhead so by the time they will need to increase their prices, it will be to survive and not for profit. 

Much is true in any business, one key success is adaptability. It reveals the company’s flexibility, resiliency, and passion that one can find in Garcia and Mekeni. It is as well the same key to surviving a crisis as an average Juan – adaptability followed by resiliency.

While the COVID-19 cases are once again moving upward – a 13 percent increase from the previous week. Based on the Department of Health database, the country tallies its weekly update at 27,331 new cases for August 1 to 7 with 76 critical cases and 80 deaths even though we have 71,904,396 fully vaccinated individuals since the country launched its vaccination program in March 2021. Pampanga, on the other hand, has a total of 845 active cases with 51 new cases as of August 7. 

As the virus continues to evolve, new variants will also continue to emerge. The inflation expectation, just like what Garcia presumed, might carry on. So, how long do we have to keep up and adapt in order to survive? Most of us with shallow pockets have been used to living so frugally that the frugal we thought we are doing can still manage to adjust to another level of frugality. What about those who try to live each day without any pockets to grapple at all? 

In the meantime, I will finish my cup of coffee and take things with a grain of salt… sugar, rather.