IN CHARTS: Inflation crisis not yet over for poorest Filipinos
MANILA, Philippines – The poorest Filipino households experienced inflation, or the rate of increase in the prices of goods, at 7.2% for 2018, said the Philippine Statistics Authority (PSA) on Wednesday, January 23.
The figure is much higher than the headline inflation of 5.2% in 2018.
Inflation for the poorest 30% Filipino households in 2017 was only at 3%.
The figure was computed by adjusting the weights of commodity groups in the consumer price index to reflect the typical budget of the poorest Filipino households.
For example, the poorest 30% Filipino families allot more money for food like fish and rice and less for meat. They also spend less on recreational activities and health.
The consumption pattern is reflected in computing for inflation felt by the poorest households. (READ: EXPLAINER: How inflation affects you)
The chart below shows just how much more the poorest families were hit by high inflation last year:
The poorest households felt food inflation reaching as high as 10.8% back in October.
High fuel, electricity, and utility prices also weighed down on the poor.
Meanwhile, inflation felt by poor households in the National Capital Region (NCR) already eased to 4.8% in December.
However, the figure remained high in most areas outside NCR.