Discussion and Recommendations

This study aimed to showcase price changes in food items from 2020 - 2024. A majority of food items saw varying increases in prices, and some few items saw decreasing prices. Of particular interest is the red onions, which saw a massive price spike in 2023, from roughly ₱150 to ₱400. However, tests show that there was no significant trend in price, and that this spike is an outlier that may be caused by other factors. With this, we would like related agencies such as the Department of Agriculture (DA) and National Food Authority (NFA) to take note of the significantly affected commodities and try to resolve these food price increases.

This study also showed the current food expenditures of average Filipinos, and the effect of the increased prices. It has become more difficult for the average Filipino to afford food, and will have to budget properly to even reach the food threshold. Most Filipinos will have to focus on affording only common and essential food items.

Conclusion

Throughout 2020 - 2024, the Philippines saw significant price increases in many common food items, making it difficult for the average Filipino to afford the food threshold. Government agencies should look into these commodities to resolve price increases (in addition to mitigating effects of inflation). As individual consumers, we have to properly consider food budgeting as the increased prices will take up a larger portion of income.