Industry News

Malacañang: Government is taking measures to curb rising prices

Inflation reached a new nine-year high of 6.7 percent in September versus the 6.4 percent in August, based on data released by the Philippine Statistics Authority (PSA). Steep increases in food prices was caused by supply disruptions after the onslaught of Typhoon Ompong, stoking inflation in September, the PSA noted. Malacañang had assured that they are taking steps to rein the soaring prices. The Palace cited President Duterte’s directives issued last September:

Administrative Order No. 13 Removed non-tariff barriers and streamlined administrative procedures on the importation of agricultural commodities
Memorandum Order No. 26 Directed the Department of Agriculture and the Department of Trade and Industry to adopt measures to lessen the gap between farmgate and retail prices of agricultural products

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