For the second consecutive year, the “poorest” Filipinos experienced a slower increase in inflation compared to the average, data released by the Philippine Statistics Authority (PSA) showed.
The annual average inflation for the bottom 30-percent income households for the year 2017 was registered at 3 percent, higher than the 1.4 percent in 2016.
Compared to the annual average inflation experienced by all Philippine households, commodity prices rose 3.2 percent in 2017 and 1.8 percent in 2016.
However, inflation felt by the poorest 30 percent of Filipinos living in Metro Manila was still higher than the average inflation felt by all households in the National Capital Region (NCR).
Inflation experienced by the poorest households in Metro Manila reached 5 percent in 2017. This is higher than the average for NCR of 4 percent last year.
In areas outside of NCR, inflation experienced by the poorest 30 percent of households reached 3 percent, while the average for all households was only 2.9 percent in 2017.
Meanwhile, in terms of specific commodities, more expensive food items caused inflation to increase for the bottom 30 percent in 2017.
The annual increment of the food alone index at the national level picked up by 3.4 percent in the fourth quarter of 2017.
Its annual rate was recorded at 3 percent in the previous quarter and 2.2 percent during the same period in 2016.
Higher annual average rates for the year 2017 were seen in all the commodity groups except clothing index that exhibited a slower annual average growth of a percent during the year from 1.2 percent in 2016.
Monitoring the movement of prices, particularly for the bottom 30 percent, addresses indicators under Global or Sustainable Development Goals 1 and 2, which the Philippines adopted this year.
The United Nations said Goal 1 aims to end poverty in all its forms everywhere, while Goal 2 aims to end hunger, achieve food security and improved nutrition and promote sustainable agriculture.