Pulse Asia: Controlling inflation still top concern for Filipinos

Majority of Filipinos have expressed concern over the rising inflation rate in the country, a Pulse Asia poll showed Tuesday.

In its September 2023 Ulat ng Bayan Survey taken from September 10 to 14, Pulse Asia said 74% of the country’s adult population “expresses concern about the need to control the rising prices of basic commodities.”

The results of the latest poll was “virtually unchanged” compared with the June 2023 edition of the survey.

Across all income classes, controlling inflation is also the top concern, at 67% in Class ABC, 75% in Class D, and 75% in Class E.

Inflation, or the rate of increase in the prices of goods and services, stood at 5.3% in August, faster than the 4.7% rate seen in July and snapping the six-month deceleration trend which began in February. 

Among the major contributors to the faster inflation print in August was rice which saw a rate of 8.7%, faster than the 4.2% in July, blamed on alleged hoarding incidents, artificial shortage, and speculative business decisions.

To temporarily temper rising rice prices, the government issued Executive Order No. 39, which mandated price ceilings for regular milled and well-milled rice varieties at P41 per kilo and P45 per kilo, respectively.

The government has yet to lift the price caps, which has been in effect since September 5, 2023.

Vegetable inflation, meanwhile, sped up to 31.9% from 21.8% “due to production losses from the enhanced monsoon rains and Super Typhoon Egay.”

Likewise, faster increments were seen in Fish and Other Seafood at 6.9% from 4.5% month-on-month.

Overall food inflation, which tracks price movements in a “basket” of foods commonly purchased by households, moved up faster at 8.2% from 6.3%.

National concerns

Meanwhile, the second most often mentioned urgent national concern is increasing the pay of workers at 49%, while a third group of responses includes creating more jobs at 27%, reducing poverty at 25%, and fighting graft and corruption in government at 22%.

Fighting criminality at 18%, resolving the problem of involuntary hunger at 14%, and providing assistance to farmers at 13%, comprise a fourth set of national concerns that the national administration must address immediately.

The Pulse Asia survey was done using face-to-face interviews. The nationwide survey was based on a sample of 1,200 representative adults 18 years old and above. It had a ± 2.8% error margin at the 95% confidence level.

Some of the major developments during the conduct of the survey were the congressional hearings on the proposed P5.768-trillion 2024 budget; the issue on P4.8-billion confidential funds by the Offices of the President and Vice President as well as the Department of Education; and the statements released by the military concerning the resurgence of swarming activity in the West Philippine Sea.

Also, coinciding with the conduct of the survey was the implementation of price caps on retail prices of well-milled and regular milled rice at P45 per kilo and P41 per kilo, respectively as well as the release of the August 2023 official inflation figures. — RSJ, GMA Integrated News