00:00The prices of groceries increased rapidly this December compared to last November.
00:04At the beginning of the year, the problem is not only the high price of rice,
00:08but also the high price of tomatoes.
00:10Ivan Mayerina was on the news.
00:16The three-year administration of Marcos became a firm challenge.
00:19The prices of various groceries are increasing.
00:22The country has gone through the rising prices of onions, chilies, and even potatoes.
00:28Now, they are talking about the high price of tomatoes,
00:31and what's not to be missed, the high price of rice.
00:35The food security and food prices were not discussed in the first full cabinet meeting this year.
00:40But President Bongbong Marcos said that his Department of Agriculture will separate
00:45while confirming that the government is targeting this.
00:48Since the beginning of my service in the Cabinet,
00:52we have been wondering how this will happen.
00:56There is sufficient supply, but the prices don't go down, they go up.
01:01So we have been very active in prosecuting the hoarders.
01:07But that is only one part of the explanation.
01:10There is smuggling, but we are looking at all this.
01:14The price of tomatoes is local production, why is it high?
01:17Based on the data, the government is trying to reduce inflation
01:23or the rapid price increase of goods in the country.
01:26Even if it increases to 2.9% this December,
01:29from 2.5% in November,
01:32based on the data released by the Philippine Statistics Authority,
01:35because of the whole year 2024,
01:37the inflation rate was only 3.2%,
01:40not even lower than 6% in 2023.
01:44That is also included in the 2% to 4% target of the government for this year.
01:48But not only goods, such as food, but also groceries,
01:52need to be targeted to have something to do with inflation,
01:56like the increase in inflation this December.
01:58Housing, water, electricity, gas, and other fuels are also affected by the increase in inflation.
02:04The increase in house rent is faster, with 2.4% inflation.
02:09And LPG, with 7.8% inflation.
02:14President Bongbong Marcos helped the economic managers
02:17of NEDA, BSP, and the Department of Finance yesterday.
02:21Even though the inflation rate is lower than the previous year,
02:24the President instructed not to be complacent and to remain prepared,
02:27because there are still reasons for prices to rise again,
02:31like the rise in the prices of goods in different parts of the world,
02:34and of bad weather.
02:36For GMA Integrated News, Ivan Meirina, Katutok, 24 Hours.
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