JAKARTA, Indonesia — Malacañang assured the public the government will intensify its monitoring of rice prices in the market as headline inflation increased to 5.3 percent in August.

"Our office will be vigilant to achieve the goal of lowering the price of rice in our markets and supermarkets," said Executive Secretary Lucas Bersamin, in a statement on Wednesday.

Citing reports of the Philippine Statistics Authority and the National Economic and Development Authority that said the inflation rate increased due to the high rice prices, Bersamin said it is one of the reasons behind the President's decision to set a price ceiling on rice as a temporary policy to address inflation.

President Ferdinand R. Marcos Jr. issued Executive Order 39 on 31 August mandating price caps for regular and well-milled rice at P41 per kilogram and P45 per kilogram, respectively.

This policy, he said, also aims to alleviate the suffering of the people, eradicate price manipulators, and shield the vulnerable population against the unjustified and artificial increases in rice prices caused by hoarding and price manipulation.

"The increase in inflation is due to the prices of food, especially rice, in general. That's why our President decided to implement a price ceiling on rice because he sees that its increase is being manipulated, causing hardships for our fellow citizens. The price ceiling is a step to address inflation and alleviate the suffering of our people. We will continue to monitor and address the needs of every Filipino," Bersamin said.

Under the EO, the Department of Trade and Industry and the Department of Agriculture, in coordination with other government agencies, shall ensure its strict implementation and aid retailers affected by the price ceiling.

DoJ teams vs rice price cap violators
Meanwhile, Department of Justice Secretary Jesus Crispin Remulla said it will form teams to inspect markets and check sellers' compliance with the rice price ceiling order.

Remulla said cases will be filed against those found violating the price ceiling.

The most serious case that could be filed, he said, is economic sabotage, which is a non-bailable offense.

He warned that price manipulators, hoarders, and others engaged in illegal activities would face legal consequences.

"We have laws prohibiting these activities and if they insist on doing that, they would have to face the penalties," he said.

With Pedring Labrador