Food imports surge to P2.9bn in Q1

Food imports in the first quarter of this year ranged from a low of P845.7 million in January to a peak of P1.2 billion in March, compared to a low of P720.8 million in February and a peak of P881.2 million in the first quarter of last year.

The data agency's figures do not indicate whether the higher food imports for this year are as a result of inflation, which averaged 10.4% in the first three months of this year, compared to 2.7% over the same period last year.