Recorded a 2-year record as the fastest inflation for the month of January 2021.
According to a report by the Philippine Statistics Authority (PSA), they recorded 4.2 percent inflation for basic commodities.
Inflation is the basis of the rapid rise in prices of goods and services in certain areas.
Reasons for inflation include meat supply problems due to the african swine fever and even the effects of the covid pandemic.
Those that have seen rapid price increases include the following:
Meat, 12.6%
Fish, 3.6%
Oil, 4.4%
Fruit, 11.7%
Vegetables, 19.2%
