Food price stability faces pressure from higher fuel costs

Food prices have remained stable despite rising fuel costs, but the impact on households is becoming more nuanced as higher expenses in other areas affect overall purchasing power.

The Department of Agriculture (DA) on Saturday attributed steady prices to adequate supply, even as transport and logistics costs increase.

“The DA Bantay Presyo Supply and Monitoring Team is on top of the situation, closely tracking both supply and prices of basic necessities and prime commodities across markets nationwide,” Assistant Secretary Genevieve Velicaria-Guevarra said.

“We continue to monitor key agri-fishery products, including rice, cooking oil, sugar, pork, beef, chicken, tilapia, bangus, eggs, and vegetables. Based on our latest data, prevailing retail prices remain generally stable and are still fair and justifiable relative to farmgate prices, despite rising fuel costs,” she added.

Monitoring by the DA's Agribusiness and Marketing Assistance Service showed price increases in imported rice and local beef and pork following the 28 February United States-Israel airstrike on Iran, categories that typically account for a significant share of household food spending.

At the same time, alternative protein sources such as chicken, eggs, fish, and vegetables have either held steady or declined as of 13 April. This provides consumers with lower-cost options, though it may also influence consumption patterns as households adjust to price movements across food categories.

Improved supply conditions have supported price stability. The lifting of the fishing ban on 31 January increased catches of staple fish such as galunggong and tamban, contributing to lower prices.

Galunggong fell to around P200 per kilo from as high as P330, while tamban eased to P130 from P140.

To address rising imported rice prices, the government considered an executive order to impose a P50-per-kilo price cap, as market prices have climbed to about P60.

While food prices remain relatively steady, overall inflation rose to 4.1 percent in March from 2.4 percent in February and 1.8 percent in March 2025.