Poorest Pinoys hit by higher prices in Q1
The bottom 30 percent of Filipinos living outside Metro Manila suffered most from higher prices of food and drinks during the first quarter, the Philippine Statistics Authority (PSA) said.
BusinessMirror reported that inflation for the bottom 30 percent of households rose 1.1 percent in January to March, compared to 0.8 percent in fourth quarter of 2015.
The PSA was quoted as saying that the higher inflation was due to “higher annual growths recorded in the indices of food, beverages and tobacco [FBT] and services.”
If inflation for those outside Metro Manila was 1.1 percent, those within the National Capital Region experienced 0.5 percent inflation due to cheaper fuel, light and water.
The poorest are more sensitive to price hikes because much of their consumption is on food and beverages.