Prices are increasing pressure on the government to stop the country’s neediest going hungry.
MANILA: High food prices in the Philippines have pushed inflation to a five-month peak, officials said Thursday, increasing pressure on the government to stop the country’s neediest going hungry.
“The government is committed to providing targeted assistance to affected vulnerable segments of the population while food prices remain elevated,” economic planning secretary Arsenio Balisacan said in a statement announcing last month’s consumer prices data.Last month Marcos put a controversial price cap on rice, a national staple, to support poor households.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said increasing inflation was particularly linked to rice prices, crop damage from typhoons earlier this year and a weakening peso that hiked import prices.
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