By TED CORDERO, GMA Integrated News

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 said the following are the average retail prices of rice at the national level in November:

• Regular milled – P49.24 per kilo from P50.22 per kilo in October
• Well-milled – P54.64 per kilo from P55.22 per kilo in October
• Special – P63.72 per kilo from P63.97 per kilo in October 

In a statement, National Economic and Development Authority Secretary Arsenio Balisacan said that “to further address food prices, the Department of Agriculture is set to launch the Kadiwa Rice-for-All program across major public markets to offer more affordable options for consumers amid the persistently elevated rice prices.”

The DA will be deploying Kadiwa ng Pangulo kiosks in major public markets, offering “Rice-for-All” at price of P40 per kilo, available from Tuesdays to Saturdays, 8:00 a.m. to 5:00 p.m.

The Rice-for-All program was aimed at providing affordable rice options for consumers and help curb high retail prices.

The DA is coordinating with the following major markets in Metro Manila for the rollout: Kamuning Market, Malabon Central Market, New Las Piñas City Public Market, Pasay City Public Market, Balintawak Market, Cartimar Market, Pateros Grace Marketplace, Maypajo Public Market, and Paco Market.—AOL, GMA Integrated News

Published Date: December 5, 2024