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Typhoon damage to agriculture may trigger higher food prices – Romero



1-Pacman Partylist Rep. Mikee Romero has warned that the recent onslaught of Typhoon Ompong might worsen the country’s soaring inflation in the coming months.

Romero said Ompong’s devastation in Northern and Central Luzon would have “some adverse and lingering impact on the supply of rice and vegetables.”

“That effect will cause retail prices to jump yet again this September and until October,” said Romero.

Romero explained that unharvested rice damaged by the typhoon together with the continuing peso depreciation would have inflation effects that could last months.

“Our inflation problems started during the lean months for rice last year. With the peso depreciating even further this year, imported fuel will become more expensive and worsen inflation,” said Romero.

The billionaire solon urged the Duterte administration to create a Presidential Task Force “to steer the country out of the inflation.”

“People want to see a coordinated attack on inflation by all the government agencies with the different mandates on various components of the consumer price index,” said Romero.

He also warned that the country could have a “bleak Christmas” if the strike force on inflation is not formed now and pushes inflation back to below four percent.

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