The company, which makes Royal pasta and Selecta ice cream, among many other food brands, has seen prices of raw materials decrease significantly since late 2022 and early 2023, said RFM president and CEO Joey Concepcion. He also said the company has secured raw materials up to June next year.
Rising food prices drove inflation to a 14-year high of 8.7 percent in January this year. Inflation then slowed for the next 6 months before rising again in August and September. President Ferdinand Marcos Jr's performance rating has gone down due to dissatisfaction over the government's handling of inflation, according to a Pulse Asia survey.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Soaring food inflation weighs on consumersFilipinos who regularly go to the market complain about surging rice and vegetable prices.
Source: PhilstarNews - 🏆 1. / 94 Read more »