Inflation among poor households rises to 1.7%

An increase in food prices and utility costs last November jacked up the impact of inflation on poor families, bringing the rate to a higher 1.7 percent year-on-year.

In a report released Monday, the Philippine Statistics Authority (PSA) said that inflation for the bottom 30-percent income households rose from the four-year low of 0.8 percent in October.

The higher rate in November last year cut short five straight months of decline since June 2019.

At the end of the first 11 months of 2019, inflation among the poor averaged 3.3 percent, below the 7.1 percent during the same period in 2018.

The PSA said that national food inflation among poor households increased 0.4 percent in November, reversing the 0.6-percent decline recorded last October.

In particular, the PSA said the following food items saw faster annual price increases that month: fish (6.3 percent), eggs (5.8 percent), fruits and vegetables (4.7 percent), miscellaneous foods (2.3 percent) and meat (0.8 percent).

Corn prices inched up 0.1 percent year-on-year, reversing October’s 0.5-percent decrease.

While prices of dairy products rose 1.6 percent year-on-year in November, it was a slower increase than a month ago, the PSA said.

In the case of rice, prices dropped by 6.3 percent last November, the PSA added.

The fuel, light and water index also inched up 0.2 percent year-on-year that month, reversing the 0.7-percent decline in October.

Last November, prices of the food, beverages and tobacco index rose 1.6 percent; clothing, 3 percent; housing and repairs, 3.7 percent, and miscellaneous, 2.3 percent.

The cost of services among the bottom 30-percent income households also increased, although at a slower pace of 2.7 percent year-on-year. —Ben O. de Vera INQ