MANILA -- Rice registered negative inflation for the first time since December 2021, after the average price of the staple fell 2.3 percent last month, the Philippine Statistics Authority said on Wednesday.

Inflation steady at 2.9 percent in January

The PSA said this was in stark contrast to the 22.6 percent annual rice inflation rate seen in January 2024.

"Kung naalala nyo, tumaas talaga rice inflation noong 2024 beginning January. Base sa current trend noong prices, ang expectation natin based on the computation is at least hanggang July we'll expect negative inflation for rice," said National Statistician and PSA Undersecretary Claire Dennis Mapa.

(If you remember, rice inflation was high last year. Based on the current trend of the prices, we expect negative inflation for rice until July.)

The Department of Agriculture attributed this downtrend to the tariff cut for imported rice, which they implemented in July 2024.

Data shows that rice inflation slowed down after this, but not at the rate that the Department of Agriculture had hoped.

"Di kasing mabilis ang pagbaba kaya may Food Security Emergency tayo ngayon," Agriculture spokesperson Arnel de Mesa said.

(It's not as fast as we would have wanted so we still have food security emergency right now.)

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"We're happy na nakikita natin ang pagbaba, at ang pagbaba shows significant contribution yung tariff cut," he added.

(We're happy that we're seeing lower inflation, and the tariff cut contributed significantly.)

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