Govt food program helped bring down rice prices despite inflation uptick
Albay 2nd District Rep. Joey Salceda, chairman of the House of Representatives' ways and means committee, says on Jan. 7, 2025, that the 'Murang Pagkain' Superpanel helped bring down rice prices in the country despite the slight increase in inflation rate. The Philippine Statistics Authority said that the headline inflation rate in Dec 2024 increased to 2.9 percent.
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Albay 2nd District Rep. Joey Salceda, chairman of the House of Representatives' ways and means committee, says on Jan. 7, 2025, that the 'Murang Pagkain' Superpanel helped bring down rice prices in the country despite the slight increase in inflation rate. The Philippine Statistics Authority said that the headline inflation rate in Dec 2024 increased to 2.9 percent.
VIDEO BY RED MENDOZA
Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
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DailyMotion - https://tmt.ph/dailymotion
Subscribe to our Digital Edition - https://tmt.ph/digital
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NewsTranscript
00:00Although the inflation has increased, rice is still negative 7.7.
00:05This means that the efforts of the Congress,
00:10along with the efforts of the agencies,
00:14are working together to monitor the situation.
00:18Because if you think about it, there are no problems in the wholesale market.
00:21In the retail market, the prices are really falling.
00:25So when I went home, for example, this vacation,
00:29I was able to buy rice for P40, which is a good price.
00:33But are we hopeful that by 2025, at least,
00:38the price of rice will go down?
00:40I haven't broken a cartel yet.
00:43Yes, I have broken cartels.
00:46So we need to have a mechanism
00:50to make sure that this won't happen again.
00:55Because if not,
00:57if we only give rice in November or December,
01:01the price will go down,
01:04especially if it's the planting season.
01:07We can't just sell the imports again.
01:13So the rice will go down again.
01:16We'll see about that next week.
01:18I have something else to say.
01:20We are directly, we are discussing this one by one,
01:25especially the big ones,
01:31because that's where we'll start.
01:33What do we expect in the next hearing of Murang Pagkain?
01:37Murang Pagkain, we might need to segue to Murang Kuriente.
01:43Our speaker has an order.
01:47He should have been here earlier.
01:50He has a prepared speech on the 204 billion
01:55unauthorized excess revenues
02:00that the NGCP took away.