Marcos lifts Philippines' cap on rice prices after one month

President says Manila still taking 'other measures' to curb food inflation

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Food stores in Manila have been losing money, with prices increasing rapidly since Sept. 1. © AP

RAMON ROYANDOYAN, Nikkei staff writer

MANILA -- The Philippine government is lifting the ceiling on rice prices, roughly a month after implementing limits to contain surging prices of the key food item.

President Ferdinand Marcos Jr. announced the move Wednesday on the sidelines of a government rice-distribution event in Metro Manila.

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