Palace to discuss price hikes in meeting

THE rising prices of rice and bread may be taken up in the next meeting of the Cabinet this coming Tuesday, Malacañang said Saturday.

Deputy presidential spokesman Gary Olivar said the Cabinet meeting will see if the rise was due to the effects of cyclones that devastated the country last year, or due to profiteering.

For updates from around the country, follow Sun.Star on Twitter

“I assume it has been scheduled into the agenda. And if such high prices still persist, definitely the president will take it up at the Cabinet meeting,” Olivar said in a radio interview.

In the meantime, Agriculture Secretary Arthur Yap is already keeping watch over prices of rice.

Olivar said the Department of Agriculture may come up with long- and short-term solutions, including entering into long-term supply contracts and keeping watch over prices of rice and other commodities.

But he said they are not discounting the possibility that the price hikes were due to higher prices of palay and flour as a result of agricultural damage brought by cyclones Ondoy and Pepeng. (JMR/Sunnex)