Food supplies enough, price hikes not expected

September 17, 2018

ECONOMIC managers insisted that there should be no increases in prices of basic commodities in the aftermath of Typhoon Ompong as supply remains sufficient.

"Wala tayong ini-expect na pagtaas (ng presyo ng bilihin). 'Yun pa rin ang buying price," Trade and Industry Secretary Mon  Lopez told reporters in yesterday’s press conference in Tuguegarao, Cagayan, one of the provinces most affected by Ompong.

Ompong left the Philippine Area of Responsibility late Saturday night.

"Nag-ikot tayo, business as usual. Nagbukas ang mga tindahan, may supply at within SRP (suggested retail price). Kaya importante na 'yung daanan ng supply ay passable, para madala ang mga produkto,” Lopez added.

Lopez said the stores’ supplies of basic commodities can last up to two to three weeks.

“Marami pong supply, kaya hindi po natin kailangan mag-panic buying,” Lopez pointed out.

Lopez, however, conceded that the DTI is watching out for possible increase in prices of construction materials.

“Tututukan po natin 'yung sa presyo sa construction materials kasi mabilis mag-increase ang presyo kung mataas ang demand,” Lopez said.

The country is still reeling from a nine-year high 6.4 inflation rate in August mainly due to increases in food items such as rice and vegetables, as well as electricity and operation of private vehicles.

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