Inflation rate nitong Hulyo, bumagal sa 4.7%, ang pinakamabagal sa loob ng isang taon, ayon sa PSA
Inflation rate nitong Hulyo, bumagal sa 4.7%, ang pinakamabagal sa loob ng isang taon, ayon sa PSA
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00:00 The Philippine Statistics Authority has calculated the lowest price of goods and services in a year.
00:07 This is also the sixth lowest inflation rate, which is estimated at 4.7 percent.
00:14 The PSA believes that the country's inflation rate will continue to decline until the end of 2023.
00:23 Naomi Tiburcio has the following report.
00:27 In the six months to come, the country's inflation rate will continue to decline,
00:32 down from the rate set by economic managers in the continuous decline of inflation this year.
00:37 According to the Philippine Statistics Authority,
00:40 inflation in July declined by 4.7 percent from 5.4 percent in June.
00:47 This is the slowest inflation rate not only this year, but also since March 2022.
00:54 The slowdown in inflation in July was helped by the increase in electricity prices,
01:00 coal, LPG and other oil.
01:03 Another reason is the almost non-renewable prices of chicken, fish, seafood and sugar.
01:10 The PSA also explained that inflation also slowed down in the transportation of jeeps, airplanes and buses.
01:16 Inflation in rice, vegetables like onions, cabbage and tomatoes, milk and eggs also slowed down.
01:24 According to the PSA, this may be related to the recent typhoons.
01:28 We had an impact on vegetables for example.
01:33 We saw that our vegetables are increasing.
01:40 Normally, that's the first thing that increases.
01:43 But we will see because you will notice that the movement of 13 commodity groups is a bit dynamic.
01:50 For this month, for example, the July report, we saw the decrease in transport.
01:57 But this past week, there was an increase.
01:59 We will see in the coming weeks.
02:02 According to the PSA, in February, inflation in rice increased from 2.2 percent.
02:10 It will continue to increase until 4.2 percent this July.
02:15 In the rice of Marilyn in Quezon City, it increased from P42.00.
02:19 She had to increase it to P52.00 per kilo.
02:23 Last July, it was the lowest price she could sell rice.
02:26 How big is the difference in price of rice?
02:29 It's big. It's already at P100.00+.
02:32 The difference is big.
02:34 That's why we changed the price.
02:36 Before, half a sack or one sack, they would sell for a kilo first.
02:40 It's not a whole sack anymore.
02:42 According to Usec Mapa, the rice could be affected by inflation in the coming months.
02:47 You're right. It will increase.
02:50 The weight of this rice, as we know, the weight of this basket is 9 percent.
02:56 So this is what we're looking at. This is one of the threats to increase inflation.
03:00 So for now, it's not that high, but I agree with your observation that this could be the source of our future inflation.
03:11 When NEDA is investigating, they will closely monitor the supply and demand situation,
03:15 the bad weather, the increase of crude oil in the Pantay-Diga market,
03:20 and the trade restrictions on food to reach the inflation target of 2 to 4 percent at the end of the year.
03:28 (Laughter)
03:31 Nayoi Timurso, Pagasabayan.