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NewsTranscript
00:00Even if the price of rice went down, the price of vegetables, pork, chicken, and fish went up
00:06according to the data of the Philippine Statistics Authority this January.
00:10The Department of Agriculture plans to increase the maximum SRP of pork and chicken.
00:15This is Bernadette Reyes.
00:21Before the opening of the store, the price of the rice that was being sold was changed
00:25to their place in Mutianang Pasig Public Market.
00:28Starting today, the maximum suggested retail price for 5% broken imported rice is reduced to P55 per kilo.
00:38This is the old P56, so we reduced it to P55 so that we can continue.
00:45As long as we earn even a little.
00:47But Shane still can't lower the price.
00:51We will lower the price before February 15 as long as we can finish our old stock.
00:57According to the Department of Agriculture, no notice of violation will be issued
01:01as long as they comply with the new price in an easier time.
01:05On February 15, the maximum SRP will also be implemented in the provinces.
01:11Some people really buy more stock.
01:14It's always like that. We're okay with that.
01:17And then for others, because their supply is cheaper, they immediately comply with the P55.
01:24The target is to lower the maximum SRP to P49 per kilo in March.
01:30According to the Department of Agriculture, the government's target is to lower the price of rice to this level before July 2023.
01:39The target is P41 per kilo for regular milled rice, and P45 for well-milled rice.
01:45According to the Philippine Statistics Authority, the price of rice will be lowered this January.
01:51Negative 2.3 percent is the remaining inflation rate of rice this January 2025, compared to positive 0.8 percent last December.
02:01This is the lowest since June 2020, where we had minus 2.8 percent inflation.
02:11January 2024 is about 22.6 percent and this will continue until July, which is 20.9 percent.
02:20But even if the price of rice is halved, the price of vegetables, pork, chicken, and fish has increased.
02:28Those are the ones affected by the food inflation rate, which increased from 3.5 percent last December to 4 percent this January.
02:36Headline inflation remained at 2.9 percent, or an increase in the price of products and services this January.
02:44According to the Department of Agriculture, the maximum SRP for pork will also be lowered.
02:50But they are still discussing how much and when this will be implemented.
02:54For GMA Integrated News, I am Bernadette Reyes, your witness.
03:14.