Inflation top concern of Filipinos —Pulse Asia

The spiraling prices of goods and services are still the main concern of Filipinos, a March 2024 Ulat ng Bayan survey of Pulse Asia showed. 

According to a "24 Oras" report, the survey asked the respondents to choose up to three issues that the administration should act on immediately. 

"Controlling inflation" or the need to curb the spiraling prices of basic commodities ranked the highest among the issues considered urgent by the respondents with 70%.  This emerged as the top concern across geographical areas and socio-economic classes.

Increasing the pay of workers came in second (36%), followed by fighting graft and corruption in government (26%).

The survey was conducted from March 6 to 10, 2024 using face-to-face survey of 1,200 respondents. It has a +/-2.8% error margin at the 95% confidence level. Subnational estimates for the geographic areas covered in the survey have the following error margins: +/-5.7% for Metro Manila, the rest of Luzon, Visayas and Mindanao.

Among the "critical developments" that took place in the weeks leading up to and during the survey were the plenary discussions of the House of Representatives on the proposed changes in the economic provisions of the 1987 Constitution; Senate hearing on the signature gathering for the Charter change petition; inquiry on the allegations against pastor Apollo Quiboloy; and the continuing tension in the West Philippine Sea.

Controlling inflation also emerged as the top national concern in the December 2023 survey with 72%.

For the March 2024 survey, the respondents also raised the following issues of national concern: creating more jobs (25%); reducing poverty (25%); providing assistance to farmers including selling their products (19%); addressing the problem of involuntary hunger (17%); and providing support to small entrepreneurs (14%).

At the bottom of the list of the respondents are issues that have to do with protecting the welfare of overseas Filipino workers (5%); preparing to face any kind of terrorism (4%); and changing the Constitution (1%).

March inflation

On Friday, the Philippine Statistics Authority (PSA) reported that the Philippines' inflation rate accelerated further in March, marking its second straight month of acceleration amid faster increases in food and transportation costs.

National Statistician and PSA chief Claire Dennis Mapa said inflation —which measures the rate of increase in the prices of goods and services—quickened to 3.7% in March 2024 from 3.4% in February 2024.

Last month's inflation rate, however, was slower than the 7.6% rate seen in March 2023.

Food inflation —which tracks price movements in a “basket” of foods commonly purchased by households— accelerated to 5.7% from 4.8% in February, the PSA added.

The main culprit was rice again, which saw an inflation rate of 24.4%, faster than 23.7% in February. 

This was also the fastest inflation print for the grain staple in nearly 15 years, when it clocked in at 24.6% in February 2009.

Meat inflation also increased to 2% from 0.7% month-on-month.—Sherylin Untalan/LDF, GMA Integrated News