Live Breaking News & Updates on File Photo Manila Manufacturers And Retailers Of Key Commodities Are Calling For The Institution Creative New Measures To Ease Price Pressures As Bangko Sentral Ng Pilipinas Expects Last Month 39s Inflation Likely Hover Around 8 5 9 3 Percent Range In An Interview Wednesday

File photo MANILA - Manufacturers and retailers of key commodities are calling for the institution of creative new measures to ease price pressures as the Bangko Sentral ng Pilipinas expects last month's inflation to likely hover around the 8.5 to 9.3 percent range. In an interview Wednesday, Steven Cua, president of the Philippine Amalgamated Supermarkets Association, said local food producers need support to lessen the country's dependence on imported produce. He said an over-reliance on food that is shipped in from abroad inevitably translates to higher retail prices. "We really have to develop our own food production capabilities to protect the public against inflation," he said. Cua, whose group is composed mostly of medium-sized supermarkets nationwide, agreed that the BSP's forecast accurately reflects actual price changes at the store front in February. While volumes being sold by supermarkets remain largely unchanged despite price increases, he said consu ....

Lucito Chavez , Fernando Martinez , Bangko Sentral , Steven Cua , Panaderong Pilipino , Philippine Amalgamated Supermarkets Association , Eastern Petroleum , File Photo Manila Manufacturers And Retailers Of Key Commodities Are Calling For The Institution Creative New Measures To Ease Price Pressures As Bangko Sentral Ng Pilipinas Expects Last Month 39s Inflation Likely Hover Around 8 5 9 3 Percent Range In An Interview Wednesday , Steven Cua , Resident Of The Philippine Amalgamated Supermarkets Association , Aid Local Food Producers Need Support To Lessen The Country 39s Dependence On Imported Produce He Said An Over Reliance That Is Shipped In From Abroad Inevitably Translates Higher Retail Prices Quot We Really Have Develop Our Own Production Capabilities Protect Public Against Inflation , Uot He Said Cua , Hose Group Is Composed Mostly Of Medium Sized Supermarkets Nationwide , Greed That The Bsp 39s Forecast Accurately Reflects Actual Price Changes At Store Front In February While Volumes Being Sold By Supermarkets Remain Largely Unchanged Despite Increases , E Said Consumers Are Noticeably Inclined Towards Lower Cost Or Sale Items Lucito Chavez , Resident Of The Asosasyon Ng Panaderong Pilipino , Ppealed To The Administration Offer Soft Loans And Other Affordable Financing Options Struggling Community Bakers He Said Many Small Bakeries Are Becoming Quot Victims Of Economies Scale Unable Compete With Large Corporate Chavez Big Baking Corporations , Ome Of Which Are Foreign Owned , Re Able To Bulk Purchase Raw Materials At Preferential Prices Quot Small Bakeries Cannot Price Themselves Out Of The Competition Despite Their Higher Cost For Same , O They Are Forced To Moderate Their Price Increases The Point Of Only Breaking Even , Uot He Added But Eastern Petroleum Chairperson Fernando Martinez Said There Is Reason To Be Optimistic Because Of Recent Developments In The World Market , Hich Is Reportedly The Origin Of World Inflationary Pressures He Said Local Pump Prices Diesel Have Declined To Levels Where They Are Once Again Lower Than Price Unleaded Gasoline Martinez While Fuel Not Settled Back Their Prior Russia Ukraine Conflict , He Recent Decline In The Price Of Diesel Isa Quot Clear Sign Improvement Quoti Think That Some Inflation Forecasts May Be Higher Than What We Are Actually Seeing On Ground , Uot He Said In Its Month Ahead Forecast , He Bsp Said The Upward Price Pressures In February Were Likely Driven By Higher Liquefied Petroleum Gas Lpg Prices And Elevated Of Key Food Items , Uch As Pork ,