The Philippine Statistics Authority’s early June survey indicates a continued decline in regular milled rice prices, averaging P42.77 per kilogram—down nearly seventeen percent from P51.31 in the same period last year and slightly lower than May’s P43.64.
This trend suggests a potential further easing of inflation, which hit a six-year low of 1.3 percent in May.
Contributing factors include favorable weather conditions that drove local production higher and government interventions such as the Rice-for-All program and the implementation of a maximum suggested retail price for 5 percent broken imported rice. Also in May, the DA introduced the “Benteng Bigas, Meron Na!” program of President Ferdinand Marcos Jr., where the national food staple is sold at P20 a kilo, replacing an early program that priced the subsidize rise at P29 per kilo.
The introduction of these rice options have helped stabilize rice prices—a key staple that makes up approximately nine percent of the national consumer price index and up to eighteen percent for the lowest-income households.
However, the overall inflation impact could be tempered by rising prices in other food categories.
The average price of dressed chicken rose by 9.6 percent year-on-year to P214.49 per kilo, while pork belly (liempo) increased by 2.8 percent to P366.67. Meanwhile, galunggong (round scad) prices surged 10 percent to P215.65, and bangus (milkfish) saw a sharp rise of 35 percent to P223.96 per kilo.
Among the monitored fish sold in markets, only tilapia saw a decline in prices, with a kilo now sold at P180.00 compared to P208.85 last year.
The second phase of the PSA’s price survey will be conducted in the third week of June and will help determine whether the downward trend in rice prices can offset broader pressures on food inflation heading into the second half of the year.
