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Spare us the additional problem of high prices

Published Dec 9, 2020 08:24 am
With so many problems facing the nation during this ongoing COVID-19 pandemic, we hope we will not face the additional problem of high prices this Christmas season. The nation’s inflation rate has been rising steadily since October, according to the Philippine Statistics Authority. It was 2.5 percent in October, then went up to 3.3 percent in November. In comparison, it was only 1.3 percent in November last year. The Department of Finance explained the rise in inflation as due to mounting food prices. It said the price of meat has surged 8.15 percent; fish, 5.32 percent; and vegetables, 14.6 percent. The rise in basic food prices, especially vegetables, was attributed to the recent series of storms and typhoons led by super-typhoon Ulysses which flooded Luzon from Cagayan in the north down to Metro Manila after devastating the Bicol region. The floods destroyed so many public infrastructures along with private homes. They also destroyed rice and vegetable crops that are traditionally supplied to public markets in Metro Manila. The National Economic and Development Authority (NEDA) said the damage wrought by storms and typhoons Ofel, Pepito, Quinta, Rolly, and Uysses totaled ₱15.3 billion, mostly in Bicol, Calabarzon, Cagayan Valley, and Central Luzon. The Laban Konsyumer, Inc., urged the government to enforce the price freeze on agricultural products. Unless this is done, it said, the prices will go even higher in December. In this season of COVID deaths and restrictions on the movements of people, they will be facing an additional problem of high prices this Christmas, the consumer organization said. The 3.3 percent inflation rate in November is still a long way from the 6.8 percent it reached in September, 2018. That surge in market prices was stopped only by severe government moves to control abusive private business enterprises taking advantage of a dire situation. The government also allowed the unrestricted importation of rice from Thailand and Vietnam, ending the long period of quantitative import restrictions. The price situation today is not as bad as it was in 2018. But in the face of a pandemic that has already deprived us of much of the traditional joy of the season, we hope that high prices will be added to our difficulties this Christmas.

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Roni Santiago
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