Expensive food items pushed the country’s inflation to its highest level since the rice price crisis and may continue doing so this month, according to the Philippine Statistics Authority (PSA). Know more:
Expensive food items pushed the country’s inflation to its highest level since the rice price crisis and may continue doing so this month, according to the Philippine Statistics Authority .
“Yung situation right now sa October, particular itong inflation natin, ang malaking push talaga ay food inflation. Our food inflation [at the] national level is 9.4 percent and alam natin na weight ng food basket sa ating national basket ay medyo mataas, nasa about 35 percent,” National Statistician Claire Dennis S. Mapa said in a briefing on Friday.
“So ito yung regions with double-digit food inflation. So food talaga ang nag-push sa inflation ngayong buwan,” Mapa added. The damage affected 80,295 farmers and fishers, with volume of production loss at 116,291 metric tons and 86,574 hectares of agricultural areas. There’s a substantial probability of increase in other words, it’s not certain that this is already the peak primarily because we will be experiencing upward movement from the data on food prices and the team noted that we had an increase in LPG recently so that would factored in,” Mapa said. “Since the increases are coming from the different subgroups, it may not be easy to bring this down.”Socioeconomic Planning Secretary Arsenio M.
“Our immediate priority is to continue supporting the most vulnerable sectors of the economy, hence, the cash transfers and fuel discounts will continue. This will alleviate the effects of the sustained increase in commodity prices as a result of global headwinds as well as the recent typhoons which damaged our domestic production and disrupted food supply,” Balisacan said.
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