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Rice is nearing an all-time high inflation rate which may soon be breached as prices are expected to go up until mid-2024.

Full story: https://www.rappler.com/business/high-rice-inflation-until-july-2024-market-price-going-up/
Transcript
00:00 Rice is nearing an all-time high inflation rate, which may soon be breached as prices
00:06 are expected to go up until mid-2024.
00:10 Prices continue to climb as rice inflation stands at 24.4% in March, mere inches from
00:15 the record high of 24.6% in February 2009.
00:20 National statistician Dennis Mapa projects rice inflation could increase until July,
00:26 but says it could slow down by August, saying the figure may still be in the double digits.
00:31 The average market price of 1 kilogram of rice in March 2024 rose considerably compared
00:37 to March 2023.
00:39 Aside from the year-on-year increases, rice also got more expensive in March compared
00:44 to February.
00:45 Mapa says factors driving the increase include high price of rice in the world market, the
00:50 effects of El Niño, and base effects.
00:53 [Music]

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