Gibo vows to address increasing food prices

MANILA, Philippines — Addressing the increasing prices of goods will be former defense secretary Gilbert “Gibo” Teodoro’s priority if elected to the Senate.

As prices of commodities and manufacturing inputs are expected to remain elevated due to the impacts of the Ukraine-Russia conflict, Filipinos would struggle more, Teodoro said.

High prices of commodities are also the top concern during the COVID-19 crisis, he noted.

“Faster inflation rate is expected in the coming months because of the ongoing conflict between Ukraine and Russia that has pushed higher oil and food prices in the world market,” he said, adding that it disrupted global trade.

“The Philippines is not spared from these global developments, so our policy instruments should control inflation,” Teodoro said.

The former Tarlac congressman and 1989 Bar topnotcher said the government should continue to be on the watch in ensuring that there will be no food shortage so as not to aggravate inflation.

He said this could be done through liberalizing food trade and diversifying sources.

“Our policy measures should guard our current gains in recovering from the pandemic. We should always be alert on possible developments that will set back our economic recovery,” Teodoro said.