Rice price ceilings ineffective

Rice price ceilings ineffective – analysts

Oct 06, 2023 12:32 am

PRICE ceilings were of little help in controlling rice prices with headline inflation having risen to 6.1 percent last month from 5.3 percent in August, analysts said on Thursday.

'We had expected rice inflation to be modest given the price caps ... however, it appears that price caps were largely ineffective in keeping a cap on the all-important rice price,' ING Manila Bank senior economist Nicholas Antonio Mapa said.

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