PH inflation up 8.1% in December | Cai U. Ordinario

Expensive food items caused inflation to post its highest rate in December since the Global Financial Crisis, according to the Philippine Statistics Authority (PSA).

Expensive food items caused inflation to post its highest rate in December since the Global Financial Crisis, according to the Philippine Statistics Authority .

“The higher inflation in December 2022 than in November 2022 was primarily brought about by the faster year-on-year growth rate in the index of food and non-alcoholic beverages of 10.2 percent from 10 percent in November 2022,” PSA said. Coming third was housing, water, electricity, gas and other fuels with an inflation rate of 7 percent in December 2022 from 6.9 percent inflation in the previous month.

“Executive Order No. 10, s 2022 will continue to provide diversified sources of food and agricultural inputs in the short term. The operational intervention, however, is to ensure food security by boosting food production, improving farm-to-market connectivity, and investing in disaster resilience, climate adaptation measures, and coordination mechanisms,” added Balisacan.

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