Albay Second District Representative Joey S. Salceda expressed concern that the “poor are getting hit harder than everyone else” amid the May 2022 inflation.
The Philippine Statistics Authority (PSA) reported on Tuesday that the country’s headline inflation rose to 5.4 percent in May from 4.9 percent in April. The figure would be the highest recorded inflation rate since December 2018. Inflation in May 2021 stood at 4.1 percent.
“I am concerned that the poor are getting hit harder than everyone else in this,” Salceda said in a statement on Tuesday.
Inflation in the country for the bottom 30 percent income households accelerated to 4.3 percent in May from 3.8 percent in April.
Rise in inflation to persist, immediate impact on nutrition of poor households
“Elevated inflation levels will persist” as the Russia-Ukraine situation continues, Salceda said
In a press release of the National Economic and Development Authority (Neda) on Tuesday, Socioeconomic Planning Secretary Karl Kendrick T. Chua said that the Russia-Ukraine conflict “has disrupted the global supply chain and elevated commodity prices.”
“As I warned earlier this year, flour-based products are also beginning to pick up in price. That, too, will persist due to world supply constraints on wheat,” Salceda said.
Salceda stated that the immediate impact of the inflation will be on the nutrition of poor households.
Food inflation increased to 5.2 percent in May from 4.0 percent in the previous month following faster inflation rates for fish, meat, and vegetables, according to Neda.
Non-food inflation stood at 5.6 percent in May compared to 5.4 percent in April due to transport inflation.
Measures to respond to inflation
“Measures to subsidize sectors with second round effects, such as public transport and agriculture, will be vital,” Salceda said.
Salceda underscored the need to aggressively implement the mandated nationwide feeding program. The measure would supplement food intake among children from low-income households.
“Community-based food production efforts will also be critical in rural areas,” Salceda said. The solon pointed out that inflation has risen in 14 regions outside the National Capital Region, affecting provinces harder than those in Metro Manila.
Salceda placed his hope on partners with large seasonal food surpluses to prevent nutritional crisis among poor communities.
The impact of the inflation on the bottom 30 percent income households “emphasizes the need expedite any subsidies still undistributed,” Salceda stated.
Salceda said that he will follow up with relevant government agencies on President Rodrigo R. Duterte’s promised subsidy of P500 monthly, an arrangement that was accepted in lieu of the suspension of fuel excise taxes.