GIBO: Addressing high prices of goods a priority

April 4, 2022

Former Secretary of National Defense and senatorial candidate Gilbert (GIBO) Teodoro said addressing the increasing prices of goods must be a priority, as prices of commodities and manufacturing inputs are expected to remain elevated due to impacts of the Ukraine-Russia conflict.

Gibo Teodoro said that despite the threats of the COVID-19 virus, one of the top concerns of Filipinos is the high prices of commodities.

“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. It also disrupted global trade that now fuels higher input costs,” Gibo Teodoro said. “The Philippines is not spared from these global developments, so our policy instruments should control inflation.”

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, as this will aggravate inflation rate. This could be done through liberalizing food trade and diversification of 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,” Gibo Teodoro said.

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