Rice inflation in the Philippines eases to 5.1% in November

Published Dec 5, 2024

Tridge summary

The Philippine Statistics Authority reported a decrease in the inflation rate of rice to 5.1% in November from 9.6% in October, the lowest since July 2023. This decrease is attributed to base effects and the impact of lower tariff rates for imported grain. The National Economic and Development Authority's Department of Agriculture is planning to launch the Kadiwa Rice-for-All program across major public markets to offer more affordable rice options, with plans to offer the rice at P40 per kilo.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Inflation print of the country’s food staple rice, which had been trailing at double-digits since late last year, continued its downtrend to a single digit in November still amid combined base effects and impact of reduced tariff rates for the imported grain, the Philippine Statistics Authority (PSA) reported Thursday. At a press conference, National Statistician and PSA chief Claire Dennis Mapa said rice inflation slowed down to 5.1% last month from 9.6% in October. This the lowest inflation print for the grain since July 2023, when it clocked in at 4.2%. The easing of inflation seen for rice seen since August was consistent with the PSA’s expectation that it will begin easing towards the second half of 2024 due to base effects, particularly when it began its uptrend in August 2023, as well as the impact of lower rice import tariff which took effect early July. Mapa reiterated that the PSA’s expectation is that rice inflation will continue to ease. To illustrate, the PSA chief ...

Source: Gmanetwork