00:00 The price of goods and services increased rapidly this March compared to February
00:05 according to the government's own data.
00:08 And even though rice was priced quickly, inflation is still higher for the poor.
00:14 Bernadette Reyes has the story.
00:15 The price of goods and services increased rapidly this March by 3.7%,
00:24 faster than in February.
00:26 But that's more felt by the poorest in the country, or the bottom 30%.
00:30 The price of goods and services was higher
00:32 compared to the products that are more affected by the budget of the poor, like rice.
00:37 In other regions, the price of goods and services was 5% higher than in BARMM.
00:42 Inflation in the Ilocos region is the lowest.
00:45 Despite the inflation in the country,
00:48 the price of pork, onions, and especially rice,
00:51 increased by 24.4% this March and almost reached the all-time high of rice in February 2009.
01:00 The DA explained that the price increased rapidly
01:02 because it was compared to a time when the price of rice was not yet high.
01:07 The expectation is that it will increase strongly until July because of the base effect,
01:12 unless there is really some intervention that will happen in the market.
01:17 Based on the data of the Philippine Statistics Authority,
01:20 the average price of regular meal rice reached more than Php 51 per kilo last March,
01:26 while the price of well-mealed rice reached more than Php 56 per kilo.
01:30 But if the latest report of the Department of Agriculture is based on April,
01:34 there will be a price of Php 48 per kilo of regular and well-mealed rice.
01:38 But it seems that the supply of cheap rice is not in line with the demand,
01:42 like in the Commonwealth Market.
01:44 It's sold out because it's cheaper than other types of rice.
01:50 Maybe it's cheaper.
01:52 It can't be reduced completely because it's just a small amount.
01:57 Its quality is just good.
01:59 The Agriculture Department also increased the stable down of the price of rice
02:03 which is around Php 50 per kilo.
02:06 Since January, it's been decreasing.
02:10 We are now earning Php 47, Php 48, Php 49, but our prevailing is Php 49.50.
02:17 But some farmers say that it's not in line with the more delicious rice.
02:22 The Php 62 is really delicious, but we lack the other half.
02:27 That's why we are buying the Php 55.
02:30 The increase in gasoline prices also affected the price of restaurants and accommodation.
02:35 While traffic is increasing, driver's income is decreasing.
02:39 For GMA Integrated News, Bernadette Reyes, Nakatutok, 24 Oros.
02:45 [Music]
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