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The poorest 30 percent of Filipinos had to shell out more money in the third quarter due to the increase in the price of food items, according to the Philippine Statistics Authority (PSA).
Data from the PSA showed the year-on-year (YoY) inflation experienced by the bottom 30 percent of income households increased to 3 percent in the third quarter.
“The annual growth of the food alone index moved up at a faster pace of 2.9 percent in the third quarter of 2017. It was pegged at 2.7 percent in the previous quarter and 1.6 percent during the same quarter in 2016,” the PSA said.
The inflation seen by the poorest Filipinos was higher than the annual rate in the previous quarter, which was recorded at 2.7 percent, and in the same period in 2016 at 1.5 percent.
PSA data showed the inflation experienced by the poorest Filipino households was the highest in the past 10 quarters since the first quarter of 2015, when it reached 3.1 percent.