Philippine Food Prices May Rise 1% on Transport Costs
(Corrects magnitude of food price increase.)
Philippine food prices may rise 1 percent if transport costs rise 10 percent, Trade Secretary Gregory Domingo told reporters in Manila.
The government will be “strict” in enforcing the “suggested retail price” of certain commodities, he said.
Fuel and transport cost increases will have limited effect on general inflation because these are “secondary,” he said without elaborating. Food, beverage and tobacco make up almost half of the consumer price index.
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