Monitoring rice prices

In January, the average price of local regular milled rice fell by 10.28% to P43.29 per kilo from P48.25 per kilo a year ago but inched up by 4.34% from P41.49 in December, according to the PSA. 

Well-milled rice was likewise cheaper by 7.55% year on year at P50.05 per kilo from P54.14 but climbed by 3.73% from P48.25 in December. On the other hand, the cost of special rice edged down by an annual 5.29% to P59.79 per kilo from P63.13 but went up by 2.42% month on month from P58.38.

The Philippines reopened its market to imported rice on Jan. 1 after the government imposed a four-month ban in September.

PSA data showed that core inflation, which excludes volatile prices of food and fuel, likewise accelerated to 2.8% in January, from 2.6% in the same month last year and 2.4% in December.

January saw the fastest core inflation in one-and-a-half years or since the 2.9% print in July 2024.

Meanwhile, inflation in the National Capital Region (NCR) bucked the national trend, easing to 1.9% in January, from 2.3% in December and 2.8% in the prior year.

However, inflation in areas outside NCR matched the nationwide CPI at 2%, accelerating from 1.7% a month ago. Year on year, it cooled from 2.9%.  

Inflation for the bottom 30% of income households was also faster at 1.6% in January from 1.1% in December. However, it eased from 2.4% logged a year earlier.