Key agri commodity prices drop in early July

The Philippine Statistics Authority (PSA) said prices of several key food commodities declined month on month during the July 1 to 5 period, which it calls the first phase of July. The data, reported by BusinessWorld, reflects a broad easing in agricultural product costs at the start of the month.

Fresh pork shoulder (kasim) dropped 0.8% month on month to P339.43 per kilogram. Calamansi and rice also saw lower average prices during the period, though the PSA did not specify exact percentage declines for those items. The decreases come as supply conditions for these staples improved.

The price relief offers some respite to consumers who have faced elevated food inflation in recent months. The PSA will continue to monitor price movements in the second phase of July to assess whether the trend persists.