Indicator of food price anomalies for the Philippines

Abstract

Sustainable Development Goal 2 aims to end hunger, achieve food security and improved nutrition, and promote sustainable agriculture. SDG Indicator 2.c.1 Indicator of Food Price Anomalies (IFPA) is one of the indicators that can monitor food price volatility by identifying periods of abnormal food price movements. This study generates IFPA for the Philippines by localizing the official methodology of the Food and Agriculture Organization of the United Nations (FAO) and applying the indicator to a wide variety of commodities. In this paper, a minor modification was made to FAO's methodology, which is the inclusion of additional IFPA thresholds to identify anomalous negative price movements. The data used were the official food CPI and indices of select food commodity groups with monthly reporting from the country's national statistics office.