Teddy Borja | iMINDSPH
Manila —The National Economic and Development Authority, or NEDA, will closely monitor the prices of basic commodities, particularly rice, following the country's inflation rate slowdown to 2.8 percent in January this year.
Balisacan emphasized the need to watch food and other commodity prices closely and cautioned the public not to be complacent, especially since the threat of the El Niño Phenomenon is still present.
During their meeting, the Inter-Agency Committee on Inflation discussed measures to ensure affordable prices of goods despite the looming threat of severe drought.
The meeting also laid out the government's stop-gap measures to allow importation if necessary until prices in the market stabilize.
Earlier, President Ferdinand Marcos Jr directed the different government agencies to implement the National Adaptation Plan 2023-2050 to expedite the recovery of communities in times of severe calamities.
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