MalacaAang counts on gov’t measures to ease inflation

MANILA -- MalacaAang is counting on government efforts to ease inflation, which hit 6.7 percent in September due to higher food prices caused by supply disruptions following the onslaught of Typhoon Ompong, its spokesperson said Saturday.

Alam namin na ramdam ng ating mga kababayan ang pagtaas ng presyo ng bilihin. Kaya naman po gumawa na ng mga hakbang ang pamahalaan para matugunan ito (We know that our citizens feel the rising prices of goods. That's why we are taking steps to ease them), Harry Roque said in a press statement.

Appealing for more patience, Roque reiterated that several measures have been put in place to ease inflation, including three issuances.

Last month, President Rodrigo Duterte signed Administrative Order (AO) No. 13 to streamline procedures on the import of agricultural products, including rice.

Roque said this measure will reduce the price of basic food products for Filipino consumers since certain administrative requirements unduly add to the cost of importation and limit food supply.

Alongside this order, he said, the President has also signed Memorandum Order (MO) Nos. 26, 27, and 28, which are measures to stabilize the prices of basic agricultural commodities at reasonable levels and maintain their sufficient supply in the domestic market.

These MOs are also meant to provide effective and sufficient protection to consumers against hoarding, profiteering, and cartels with respect to the supply, distribution, marketing, and pricing of these goods.

Umaasa kami na ang mga hakbang na ito ay makakatulong sa pagbaba ng presyo ng bilihin sa pamilihan (We are hoping that these steps will help reduce the prices of basic goods in the market), Roque said.

On Friday, the Philippine Statistics Authority (PSA) said the country's headline inflation surged to 6.7 percent in September from 6.4 percent in the previous month.

Duterte's economic managers attributed the upward pressures on food prices to the supply disruptions caused by Ompong in the Ilocos, Cagayan Valley, and Cordillera regions.

Approximately PHP26.8-billion worth of damage to agriculture, including facilities and infrastructure, has been recorded. (PNA)

Source: Philippine News Agency