MANILA: High food prices in the Philippines have pushed inflation to a five-month peak, officials said Thursday, increasing pressure on the government to stop the country’s neediest going hungry.
Farming subsidies and food stamps for the poor are among government efforts to rein in or mitigate price increases, which have dented the popularity of President Ferdinand Marcos Jr.“The government is committed to providing targeted assistance to affected vulnerable segments of the population while food prices remain elevated,” Economic Planning Secretary Arsenio Balisacan said in a statement announcing last month’s consumer prices data.
Rice is a staple in the country of 110 million people, but the nation cannot produce enough and is one of the world’s top importers of the grain. “At the same time that nearly all adults report spending more on food in the previous quarter, a small majority of the adult population say they consumed less food in the same period,” said Pulse Asia.
Electricity also took a large majority of household expenditures at 62 percent, while the next largest cost is gasoline or diesel at 22.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine govt pledges action on high food pricesPrices are increasing pressure on the government to stop the country’s neediest going hungry.
Read more »
42 Philippine airports on heightened alert following bomb threatsThe threats were sent by email and for flights to Cebu, Bicol, Davao and Palawan.
Read more »
Philippines puts 42 airports on heightened alert following bomb warningsMANILA, Oct 6 — The Philippines has placed 42 airports on heightened alert following a series of warnings that bombs could be set off on planes, its civil aviation authority said...
Read more »
LTKM tumbles 17% after deal to acquire high-tech firm collapsesBursa Malaysia suspends short selling of the egg producer’s shares this morning, to resume on Monday.
Read more »