Pork prices are increasing inflation, 83.3 billion pesos lost

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National Economic Development Authority (NEDA) chief Kenneth Chua blames the sixty percent rise of pork prices to the high inflation rate. Nearly nine billion pesos of lost of economic and salaries during the declared community quarantine restrictions imposed by President Rodrigo Roa Duterte.

This is what Chua reported to the President during the late night press conference of the President.

Chua says inflation rose to 6%, more than double the inflation rate last year which was 2.7%

Unemployment rate is 8.8% which is very high compared with the relative historical data of unemployment during the previous 10 years.

Chua says 14 billion pesos per week of lost business opportunities. NEDA says 83.3 billion pesos of lost income and business opportunities due to the community quarantine restrictions imposed by President Duterte.

 

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