The price of riceThe government recently ordered to set the retail market ceilings for rice prices in an effort to bring down rice price inflation. Rice price ceilings. The government price order is justified under the Price Act, a law passed in 1992 (R.A. 7581) as further amended in 2013 (R.A. 10623). The price ceiling for “regular milled” rice is P41 per kilo while for “well-milled” rice at P45/kilo. In general, the provision of the Price Act is that price ceilings are designed to cover special emergencies and are temporary in character.

Source: Philippine Star September 14, 2023 12:46 UTC