THE PHILIPPINE INFLATION RATE

Data gathered from Philippine Statistics Authority stores will only remain until prices of basic commodities have decreased.

THE PLEA

In an interview with the Pis Siyabit, a local rice ven dor said that to reduce the price of rice, the prices of farming equipment should be lowered first so that farmers will not go bankrupt.

Jayson Cainglet, Sama hang Industriya ng Agrikul tura Executive Director said, in an article of The Philippine Star, that imported rice prices rose during the global spike due to the high cost of farming equipment.

“We hope the economic managers would not succumb in advising to the President to push for more rice imports in the guise of the 20 pesos per kilo of rice, and they should only give the right information to the President. We can only ultimately lower the retail cost of rice if we can introduce interventions that would lower the cost of producing palay, cut post-harvest losses and remove non-productive players in the whole supply chain of the rice industry,” said Cainglet.

Whereas, some critics argue that the project is still ongoing, so there is still a possibility that this promise will be achieved.