Food inflation will likely accelerate this month as the extensive damage caused by Severe Tropical Storm “Maring” on the country’s agriculture sector continues to mount, said Agriculture Secretary William Dar.
Maring’s toll on agriculture has already reached P2.17 billion as of Monday morning, Dar said in a briefing, as the heavy volume of rainfall due to Maring triggered flash floods in several provinces in Northern Luzon.
Days after the storm devastated farmlands and fishing areas earlier this month, prices of vegetables in Metro Manila public markets rose by as much as P20 per kilogram.
The majority of vegetables in the metropolis come from the Cordillera, where there was significant drop damage due to the continuous rains caused by Maring.
As of Monday, prices of upland vegetables have normalized.
The country’s inflation rate of 4.8 percent in September, according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno, was due to rising fuel, utility, and food prices.
While meat prices eased during the period, this was offset by higher prices of fruits, vegetables, and rice. The same trend may be observed in October. INQ