On the micro level, this is a big problem in the Philippines. My wife just spent an hour or two talking to her mother who is in Pasig City (suburb of Manila) right now. It seems that the average price went from 18 pesos to 40 pesos is a short and sharp increase, and the result is many people are having a hard time getting access to the staple.

The news is getting significant airtime on the nightly news shows we can catch via the satellite channel back to home for her. Folks are getting worried. Don't know if this is unprecedented, but it is definitely becoming uncomfortable across the country.