- Some 2.3 million more Filipinos fall into poverty for every 10-percent increase in food prices, according to a new study by an Asian Development Bank economist.
- If the price of rice alone rises by the same rate, expect 660,000 people to swell the ranks of the poor
- Food prices rose by an average of 12 percent in April compared with only 8.4 percent in March
- The price of rice, which accounts for nearly a third of the food expenditures of the poorest households, jumped in April by nearly 25 percent from its level a year ago.
- Even a known rice-producing town in Davao del Norte felt the crunch of rising price of rice.
source: http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20080601-140139/Soaring-rice-prices-grip-Mindanao-folk
