'Stable prices, supplies this Christmas'

MANILA, Philippines - Malacañang assured the public yesterday of stable prices and supply of basic commodities this Christmas season as the government tries to temper creeping inflation.

Press Secretary Cerge Remonde said Trade Secretary Peter Favila and Agriculture Secretary Arthur Yap informed him that “they will not allow runaway prices of basic and prime commodities, especially this Christmas.”

Yap informed him that the Department of Agriculture (DA) had allowed the importation of chicken, pork and other products, usually in demand during the holidays.

“With a sufficient supply, the prices (of commodities) will remain stable,” Remonde said.

He said the DA is also strictly monitoring the movement of prices of agricultural products and “they are going to step in immediately if there is a need to do so.”

Favila, he said, informed him that his agency was also “very, very strictly monitoring prices” of prime commodities.

“Secretary Favila said they will not hesitate to recommend the re-imposition of the price controls if there will be runaway prices. So this is our assurance that the national government is not going to allow the runaway prices of basic commodities especially Christmas season so that our people can enjoy the spirit of Christmas,” Remonde said.

Luzon remains under the state of calamity but President Arroyo ordered the lifting of price controls on fuel and basic commodities after manufacturers, traders, retailers and oil companies agreed to temper increases and ensure supply.

The National Statistics Office (NSO) earlier reported that inflation rose slightly to 2.8 percent in November due to high food and fuel prices and disruptions caused by the two deadly weather disturbances -- storm “Ondoy” and typhoon “Pepeng” that caused over P30 billion in damage.

Among the goods whose prices increased due to supply disruptions and rising fuel prices were pork, chicken, eggs, and sugar, the NSO said. – Paolo Romero