The Philippine Statistics Authority (PSA) recorded mixed movements in the prices of agricultural commodities in mid-January, with potential implications for inflation. January inflation data are due 5 February.
PSA said the price of regular milled rice showed a slight decline. In the second phase of January 2025 (15-17 January), the national retail price of a kilo of regular milled rice averaged P48.12, down from P48.50 in the first phase of January and P48.98 in December 2024.
The decrease in rice prices, a staple in Filipino households, could provide some relief to consumers facing inflationary pressures, though the overall impact on inflation remains to be seen. Rice accounts for about 9 percent of the average consumer price basket and double for the bottom 30 percent of income households.
Other agricultural commodities such as fresh pork, galunggong (round scad), and red onions saw price increases in January, the PSA reported. Fresh pork, with bones, averaged P309.39 per kilo in the second phase of January 2025, up from P306.35 in the first phase and P302.23 in December. Similarly, the price of galunggong rose to P225.79 per kilo, while red onions reached P153.70 per kilo, both higher than previous months.
However, tomatoes offered some respite. The average retail price of tomatoes dropped to P158.67 per kilo in the second phase of January, a decrease from P189.69 in the first phase and P163.84 in December.
These mixed price trends suggest that while rice may help moderate inflation, increases in meat and other vegetables could offset potential benefits, keeping inflationary concerns intact.
