Executive Secretary Lucas Bersamin said on Wednesday, September 6, that the national government will extend its efforts in monitoring the rice price ceiling to achieve affordable and cheap rice prices in the local markets.
In a press briefing on Wednesday, Bersamin said that the price ceiling for rice was made after the Philippine Statistics Authority (PSA) released its latest data showing that the inflation rate or the prices of goods and service rose to 5.3% in August 2023.
"Ang aming opisina ay magbabantay upang maisakatuparan ang layunin na mapababa ang presyo ng bigas sa ating mga palengke at supermarkets. Ang datos na ito ay isa sa malaking dahilan sa pagpasya ng ating Pangulo sa pagtatakda ng price ceiling (sa bigas) at ito ay isang pansamantalang patakaran upang tugunan ang inflation," Bersamin said.
On Tuesday, National Statistician and PSA chief Claire Dennis Mapa said that the current data is faster than the 4.7% rate seen in July 2023 but slower than the 6.3% in August 2022.
According to Mapa, the main factor that contributed to the faster inflation rate in August 2023 was the faster increase in the prices of food and non-alcoholic beverages.
Due to this, the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) made a joint recommendation to set price ceilings on rice throughout the country.
Under Executive Order (EO) No. 39, dated August 31 and released on September 1, the recommendation was approved by President Ferdinand Marcos Jr.
Regular milled rice shall be set at ₱41 per kilogram while well-milled rice at ₱45 per kilogram.
The implementation of the EO started on Tuesday, September 5.
