Thursday 13 December 2018
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inquirer - 2 month ago

Stubbornly high inflation? Blame rice prices, says DOF

Basic food items such as rice, fish, meat, and vegetables have been major drivers of inflation this year with the contribution of rice rising 10 times to1 percentage point of the inflation rate, the Department of Finance (DOF) said Thursday. In particular, data from the Philippine Statistics Agency (PSA) show that rice was the number one contributor to inflation in September 2018, while food items in the consumption basket accounted for more than half of the inflation rate in the same month. In its

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