Win Gatchalian urges DTI, DA to monitor retail prices amid US-Iran conflict

Senator Sherwin Gatchalian on Friday called on the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) to closely monitor the supply and retail prices of basic goods amid the conflict between the US and Iran.

Gatchalian, chairman of the Senate committee on finance, underscored the need for the government to prepare for the possible long-term impact of the Middle East crisis on the prices of basic commodities, considering the increase in the country’s inflation rate in February 2026.

“Given [the] expectations of higher oil prices, these agencies should stand ready to curb unwarranted price increases and profiteering to protect the interests and welfare of ordinary consumers,” he said in a statement.

“Pataas na nga nang pataas ang presyo ng produktong petrolyo, huwag nating hayaang madagdagan pa ang pasanin ng ating mga kababayan,” he added.

(The price of petroleum products is already increasing, let's not let this burden our fellow Filipinos further.)

Consumer prices grew by 2.4% in the past month, faster than the 2.0% in January, and the 2.1% in February 2025, according to data by the Philippine Statistics Authority (PSA).

This was the fastest in 13 months since inflation clocked in at 2.9% in January 2025.

Food inflation recorded a 1.6% inflation rate for the month, faster than the 0.7% in the previous month but lower than the 2.6% in February 2025. This contributed 24.2% to the overall inflation rate.

Prices of rice also increased by 3.4% during the month, with faster year-on-year increases seen in corn, flour, fish and other seafood, milk and other dairy products, fruits and nuts, and vegetables.

Meanwhile, lower annual increases were seen in oils and fat, and ready-made food and other food products not elsewhere classified.—AOL, GMA Integrated News