Palace initiates steps to cushion effects of rising commodity prices

Presidential Spokesperson Harry Roque. INQUIRER file photo

Malacañang on Saturday assured the public that the government is taking steps to address the issue on the increasing prices of commodities due to the continuous rise of inflation rate in the country.

“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,” Presidential spokesperson Harry Roque said in a statement.

(We all know that our countrymen are feeling the effects of rising prices of commodities that is why the government is taking steps to adress the situation.)

The comment of Roque came after the country’s inflation rate reached 6.7 percent year-on-year in September, a new over nine-year high.

READ: Inflation hits new over 9-year high of 6.7% in September on elevated food prices

In line with the government’s effort to address the said issue, Roque said that President Rodrigo Duterte signed an administrative order that aims to lower the price of food products.

“President Duterte signed Administrative Order (AO) No. 13 last month to streamline procedures on the importation of agricultural products, including rice,” Roque said.

“This will lower the price of basic food products for Filipino consumers since certain administrative requirements unduly add to the cost of importation and limit food supply,” added.

Roque added that Duterte also signed Memorandum Order Nos. 26, 27, and 28, which would focus on the agricultural commodities.

“[A]ll of which are measures to stabilize prices of basic agricultural commodities at reasonable levels, maintain their sufficient supply in the domestic market, and provide effective and sufficient protection to consumers against hoarding, profiteering, and cartels with respect to the supply, distribution, marketing, and pricing of said goods,” Roque said.

“Umaasa kami na ang mga hakbang na ito ay makakatulong sa pagbaba ng presyo ng bilihin sa pamilihan,” the president’s spokesman said,” Roque said. 

(We are hopeful that this steps will help in lowering the prices of commodities in the market.) /jpv