MANILA, Philippines — The Department of Agriculture (DA) is intensifying its monitoring of food supply and prices after an increase was cited as the main driver of the accelerated inflation in February, the agency said on Friday.
On Thursday, the Philippine Statistics Authority (PSA) reported a 13-month high inflation of 2.4 percent in February, driven by a slower decline in rice prices and higher prices of vegetables and fish.
Food inflation also rose to 1.6 percent in February from 0.7 percent during the previous month.
“We have intensified our price monitoring activities to ensure that supply and price of food remain stable even in the face of challenges,” said Agriculture Secretary Francisco P. Tiu Laurel Jr.
He added that they were also bracing for the possible impact of the US-Iran conflict on commodities.
“We are now taking steps to secure supply so food and farm inputs are sufficient in anticipation of price shocks that may follow the current situation in the Middle East,” he said.