Photo courtesy of Michael Varcas | Philippine STAR
The Department of Agriculture (DA) has tightened its monitoring of food prices and supply as there are signs that inflation rose to 2.5%, a 13-month high, came from the Philippine Statistics Authority (PSA) latest data in February.
Agriculture Secretary Francisco Tiu Laurel Jr. said that the authorities are closely watching markets to detect and address possible supply disruptions before they translate into higher consumer costs.
“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,” Tiu Laurel Jr. said.
The DA said that rice played a key role in February’s inflation dynamics.
“Prices of the staple continued to decline year on year, but the pace of the drop slowed to 3.4% from the steeper 8.5% fall in January. This base effect contributed to the uptick in food inflation,” the department said.
In just food inflation alone, it accounted for 0.6% of the country’s overall February inflation.
“The deceleration comes more than a year after the agriculture department imposed a maximum suggested retail price on imported rice in late January 2025. The price was initially set at P58 per kilo and gradually reduced to P43 by July last year,” DA added.
PSA data showed that inflation for the marginalized families grew to 2.5% in February, from 1.6% in January, and 1.5% in the same month in 2025.
The DA warned that this sharper rise could further strain household budgets in case the Middle East tensions worsen.
Rice prices continued to decrease in February at 3.4%, compared to 8.5% in January.
However, citing figures from PSA, it noted price increases for several staples, including corn, flour, bread and other cereals, fish, seafood, vegetables, fruits, and milk.