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Al Jazeera
Al Jazeera
Business

Philippines’ Marcos orders price cap for rice amid ‘alarming’ price surge

Philippines Ferdinand Marcos Jr Marcos Jr
President Ferdinand Marcos Jr has directed authorities to clamp down on rice hoarding and illegal imports [File: Aaron Favila/Pool via AP Photo]

The Philippines has imposed a price cap on rice as the Southeast Asian country grapples with some of the highest inflation in the region.

President Ferdinand Marcos Jr signed an executive order capping prices in light of the “considerable economic strain on Filipinos, particularly the underprivileged and marginalised”, the presidential office said on Friday.

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