Agri chief sees leverage in slower June inflation for fresh rice price cap

Agriculture Secretary Francisco Tiu Laurel Jr. is seeing the slowdown in inflation rate for the second consecutive month in June 2026 as a leverage for his push to implement a fresh 60-day implementation of the P50-per-kilo price cap on imported rice.

"The latest inflation numbers show that keeping food affordable delivers real benefits to Filipino families, especially those who spend a large portion of their income on basic necessities," Tiu Laurel said in a statement on Tuesday.

Inflation rate slowed down to 6.4% last month from 6.8% in May 2026 as easing tensions in the Middle East tempered increases in fuel and food costs.

The slowdown seen in Transport index was due to the tempering of gasoline and diesel costs at 39.2% from 51.6% and 39% from 58.5%, respectively.

Also contributing to the downtrend was the slower growth in Food and Non-Alcoholic Beverages index at 5.2% from 5.7% as prices of meat, cereals, and fish declined to -4.1% from -2.5%, 12.1% from 12.6%, and 7.8% from 8.8%, respectively.

Philippine Statistics Authority data also showed food inflation declined to 5.4% from 5.8%, with heavy-weight rice inflation —accounting for 68% of food inflation— easing to 15% from 15.6%.

The Agriculture chief said the latest figures reinforce the importance of extending the P50-per-kilo price ceiling for imported rice, alongside measures to maintain sufficient inventories and improve the movement of food from farms to markets.

The DA is seeking another round of price cap in imported rice, which already expired early last month, for 60 days to protect consumers from sudden price.

Malacañang said President Ferdinand Marcos Jr. is still weighing whether to extend the P50-per-kilo price ceiling on imported rice.

“We must continue ensuring adequate supply, efficient distribution, and reasonable prices, particularly for rice, so inflation remains manageable while consumers and farmers alike are protected,” said the Agriculture chief. — RSJ, GMA News