President Ferdinand R. Marcos Jr. has backed the proposed measures of the Department of Finance (DOF) to address high inflation. Know more:
PRESIDENT Ferdinand R. Marcos Jr. has backed the proposed measures of the Department of Finance to address high inflation.
Finance Secretary Benjamin E. Diokno said among their proposed measures is fast- tracking the release of imported food commodities from the Bureau of Customs ; the creation of the new Inter-Agency Committee on Inflation and Market Outlook; and the expansion of the government Kadiwa program, which allows agriculture suppliers to directly sell their products to consumers.
The main drivers of inflation were still electricity, gas and other fuel products, as well as price spikes for food and basic commodities, it noted.FOR labor groups, the recent inflation figures showed the urgency of their demand for government intervention to bring down the high cost of living. The labor leader called on the government to impose price control on basic goods and to help farmers boost production for the country to stop relying on imported goods.
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