An economist-lawmaker on Thursday said he sees reason to be optimistic, although with some caution, that 2023 will see more acceptable inflation levels than 2022, as December 2022 inflation hit 8.1 percent, leading the annual average to hit 5.8 percent.
AN economist-lawmaker on Thursday said he sees reason to be optimistic, although with some caution, that 2023 will see more acceptable inflation levels than 2022, as December 2022 inflation hit 8.1 percent, leading the annual average to hit 5.8 percent.
Salceda, however, warned that “the entirety of 2022 showed that the country’s food price issues are structural.”SALCEDA said that food inflation remained the biggest contributor to December 2022 inflation and, at 10.2 percent, “is extremely alarming.” “We now have the world’s most expensive domestic onion prices. We have some of the world’s most expensive domestic sugar prices. Why don’t we just allow legal importation, at least among industrial or large-scale users like restaurant chains for onions and food manufacturers for sugar? These prices are obvious bubbles that we can burst,” he said.THE lawmaker also pointed out that rice price inflation is the slowest among all food items in the CPI.
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