House Speaker Martin Romualdez emphasized that lowering the prices of essential goods remains the top priority of the Marcos administration.
He acknowledged that while inflation eased to 2.9% in January 2025, food inflation rose to 4%, highlighting vulnerabilities in the supply chain.
Romualdez stressed the need for a dual approach, combining sound monetary policy with efforts to strengthen domestic food production.
The government has responded by finalizing a 55,000 metric ton quota for pork imports to stabilize prices, though Romualdez emphasized that long-term food security relies on modernizing agriculture.
Efforts to improve local agricultural production, including the distribution of agricultural machinery to farmers, are already underway, intending to reduce reliance on imports and ensure a stable food supply.
REDUCING PRICES OF ESSENTIAL GOODS TAKES TOP PRIORITY
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