A 'precarious rice situation' could stoke inflation and the declaration of a food security emergency will not be enough to lower prices of the staple, a former Bangko Sentral ng Pilipinas (BSP) official said on Tuesday.
A 'precarious rice situation' could stoke inflation and the declaration of a food security emergency will not be enough to lower prices of the staple, a former Bangko Sentral ng Pilipinas official said on Tuesday.
'But broken rice, the cheapest variety, retails at P58 per kilo based on suggested retail price.''Such a precarious rice situation does not promise bright prospects for domestic inflation,' Guinigundo continued.'Given the inflationary impact of an expected weakening of the peso-dollar exchange rate, the uptrend in rice prices coupled with creeping fuel price increases and the reported price hikes of 63 goods in February could generate more price pressures.
Emergency Could Lead To Higher Inflation
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