Philippines' Marcos lifts rice price cap imposed to curb inflation

Marcos lifts cap on Philippines' rice prices

Philippine President Ferdinand Marcos lifted a price ceiling on rice Wednesday, weeks after capping the cost of the staple to support poor households.In early September, Marcos set the maximum retail price of regular milled rice at 41 pesos ($0.72) per kilogram (2.2 pounds) and 45 pesos for the higher-quality "well-milled" rice.The measure was criticized by some economists, who warned it could distort the market and lead to shortages.A member of…

Marcos lifts cap on Philippines' rice prices

MANILA, Oct 4 — Philippine President Ferdinand Marcos lifted a price ceiling on rice today, weeks after capping the cost of the staple to support poor households. In early September, Marcos set the maximum retail price of regular milled rice at 41 pesos (US$0.72) per kilogramme (2.2 pounds) and 45 pesos for the higher-quality "well-milled" rice. The measure was criticised by some economists, who warned it could distort the market and lead to sho…

Marcos lifts Philippines' cap on rice prices after one month

MANILA -- The Philippine government is lifting the ceiling on rice prices, roughly a month after implementing limits to contain surging prices of the

Bongbong Marcos lifts rice price ceiling

MANILA, Philippines (Updated) — President Ferdinand “Bongbong” Marcos Jr. on Wednesday lifted the rice price ceiling. Marcos made the announcement during a rice distribution activity in Taguig City that beginning this Wednesday, Oct. 4, the rice price cap will be lifted. “As of today, we are lifting the price caps on the rice both for

Marcos lifts price cap on rice

MANILA, Philippines – President Ferdinand Marcos Jr. on Wednesday, October 4, announced the removal of price ceilings on rice, nearly a month after its implementation. “As of today, we are lifting the price caps on rice – both for the regular milled rice and for the well-milled rice,” he said in an ambush interview after the distribution of confiscated rice to qualified beneficiaries of the government’s conditional cash transfer program in Tagu…

Philippines' Marcos lifts rice price cap imposed to curb inflation

MANILA : Philippine President Ferdinand Marcos Jr. said on Wednesday a cap on rice prices, imposed last month to curb inflation, has been lifted. Marcos had imposed the price caps, effective early in September, as the rising cost of the national staple pushed inflation higher. "As of today, we ar