AS PRICES of commodities remain elevated, a government official advised Dabawenyos against panic buying and urged them to be vigilant instead.
“We are also asking our consumers not to panic because when they panic they tend to buy more and that is domestic hoarding,” National Food Authority (NFA) director for Davao Region Lester Romeo E. Malana said during a media forum about the inflation rate on Monday, September 10, 2018, at the National Economic and Development Authority (Neda 11) office in Bangkal, Davao City.
Malana said buying more than what is necessary will not help consumers but will result in wastage.
Neda regional director Maria Lourdes D. Lim said during the media forum that panic buying would further push prices up.
“Bumili lang tayo sa kung ano dapat na bilhin (We should only buy what is only needed),” Lim said.
She said the inflation rate is still manageable.
“So we look at the trends. If it already reaches double digit then that’s the time we should really put more aggressive measures. So for now, since it is low, we still manage and more immediate measure are forced to keep up the stocks particular to the basic food item in the market,” Lim said.
She was optimistic that with the importation of additional rice and the recent harvest, there would be ample rice supply.
The headline inflation rate accelerated further to 6.4 percent in August, the highest in nine years after 6.6 percent in March 2009.
In Davao Region, the Philippine Statistics Authority (PSA) regional office reported that the inflation rate in the region increased to 6.2 percent in July 2018.