Metro Manila (CNN Philippines, January 17) — Consumer prices would likely ease in January, the National Economic and Development Authority (NEDA) said, as it sees the end of demand shock witnessed in December.
During a public briefing on Tuesday, NEDA Usec. Rosemarie Edillon said the seasonal factor, including a low base effect in the same period in 2021, contributed to faster inflation recorded last month.
But for January, the NEDA official said the demand shock and base effects would no longer be in play.
“‘Yung base effect hindi na rin medyo magiging factor. Hopefully ‘yung domestic supply ay maiayos na rin,” Edillon said during a public briefing.
[Translation: The base effect will no longer be a factor. Hopefully the domestic supply would be fixed as well.]
The Philippine Statistics Authority reported that the inflation rate in December hit 8.1%, the highest since November 2008.
READ: Prices further rise in December amid holiday spending
The drivers of inflation last month were food and non-alcoholic beverages, which recorded a 10.2% increase, contributing a 38.9% share to the overall inflation.
