Inflation remains top urgent concern among Filipinos, says survey

November 10, 2024 , 05:32 PM

By Rodolfo Dacleson II

(November 10, 2024) – Inflation remained the top national concern for most Filipinos in the third quarter of 2024, according to a survey released on Sunday.

OCTA Research Group found that 66% of Filipinos said inflation must be addressed immediately by the administration of Pres. Bongbong Marcos Jr.

“Controlling inflation remains the most urgent national concern, increasing slightly by one percentage point from 65% in June 2024,” said OCTA.

The survey was conducted through face-to-face interviews from August 28 to September 2. Respondents were asked about the top three national issues in a provided list that Marcos must urgently address.

“Controlling inflation is particularly urgent for 67% to 70% of Filipinos across major areas, except in NCR, where only 53% view it as the top urgent national concern,” it added. “Concerns about inflation are also high among socioeconomic Classes D and E, at 66% and 67%, respectively.”

From 4.4% in July, the inflation rate in the Philippines fell to 1.9% last September, according to the Philippine Statistics Authority (PSA). It was the lowest since May 2020.

In a statement, the PSA attributed the decline to the slower annual increment in the index of food and non-alcoholic beverages to 1.4% in September from 3.9% in August.

Independent think tank IBON Foundation, meanwhile, noted that lower global oil prices and the weakening dollar led to slower inflation since the country is “import-dependent.”

ALSO READ: Inflation drop due to Marcos’ import reliance, not domestic changes, says think tank

Last October, inflation rose to 2.3% due to the adverse effects of Severe Tropical Storm Kristine and Super Typhoon Leon. The recent calamities drove rice prices to 9.6% from 5.7% in September.

During his third State of the Nation Address (SONA) last July, Marcos admitted that Filipinos continue to grapple with high food prices.

ALSO READ: Marcos admits Filipinos remain challenged by high food prices

Aside from inflation, increasing salaries of workers (39%), access to affordable food (39%), creating more jobs (33%), and reducing poverty (25%) were the other most urgent concerns of Filipinos, according to OCTA.

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