Economics
Philippines Considers Price Controls on Rice, Pork, Chicken
- Government seeks to combat inflation that’s doubled this year
- Supply-side shocks key driver of prices, trade secretary says
Photographer: Nana Buxani/Bloomberg
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Philippines is “seriously considering” price ceilings for rice, pork and chicken as food prices remain elevated after a typhoon damaged crop output, the country’s trade secretary said.
Early data shows farm-gate prices are already falling and the government is waiting to see if traders reduce retail prices correspondingly, Ramon Lopez, who heads the government’s department of trade and industry, said in an interview in London.