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.
Marcos Jr set the maximum price for regular milled rice and well-milled rice at 41 Philippine pesos ($0.72) per kilogramme and 45 pesos ($0.79) per kilogramme, respectively, his office said.
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