Inflation cools for 6th straight month, but typhoons and rice prices pose risks | The Final Word - video Dailymotion

CNN Philippines

Prices of basic goods and services rose slower last month providing some relief for consumers long burdened by high costs.  But as Currie Cator tells us, back-to-back typhoons and the rising prices of rice could speed up inflation again.   Visit our website for more #NewsYouCanTrust: https://www.cnnphilippines.com/  Follow our social media pages:  • Facebook: https://www.facebook.com/CNNPhilippines • Instagram: https://www.instagram.com/cnnphilippines/ • Twitter: https://twitter.com/cnnphilippines

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00:00 "Ruel only has about P300 left after buying 3 kilos of rice.

00:07 He bought the cheapest at P46 per kilo, P6 more than its price the day before."

00:12 "The rice price has increased and the class is not good yet."

00:16 "There are still a lot of supplies but the price has increased."

00:20 Inflation has cooled down to 4.7 percent for the sixth straight month in July.

00:26 Among the factors, the slower hikes in utilities and fuel including electricity, housing, water

00:32 and LPG, food and non-alcoholic beverages, and transport.

00:37 But food prices still had the most pressure on inflation.

00:41 The cost of rice, which Ruel has been complaining about, has been rising since February.

00:46 "I said earlier that our cereal inflation has increased.

00:52 It is 4.3 percent.

00:55 Rice is still under that category.

00:57 It is not that high yet but it can be the source of our future inflation."

01:05 The PSA says it also saw an increase in vegetable prices including cabbage and tomatoes.

01:11 But national statistician Dennis Mapa says the impact of recent typhoons on commodities

01:16 has yet to be felt, a possible factor for quicker inflation.

01:20 "Because we were hit by typhoon, we have expectations that there will be a spike in

01:29 vegetable prices and it will go down when it comes to normal."

01:33 Ruel, a minimum wage worker, says he also didn't feel the salary hike last month.

01:39 "It has increased but the prices have increased.

01:43 Everything has increased.

01:46 That's why you won't feel it."

01:49 The PSA says despite a slower inflation, the country may still be far from reaching

01:55 the 2 to 4 percent target.

01:56 "There are items that create a threat to the decrease in inflation, rice, vegetables

02:06 and then of course our services."

02:09 Average inflation falls at 6.8 percent today.

02:14 Kary Kator, CNN Philippines.

Inflation cools for 6th straight month, but typhoons and rice prices pose risks | The Final Word

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