The Department of Trade and Industry (DTI) said manufacturers of basic necessities and key commodities have committed to keeping prices stable even with the year-end holidays and a surge in demand.
In a statement on Tuesday, the DTI said manufacturers and retailers have promised to adhere to the existing suggested retail price for basic commodities.
“To ensure price stability, the DTI intensifies regular market surveillance and enforcement activities nationwide through its Fair Trade Enforcement Bureau and regional and provincial offices to prevent overcharging, profiteering and supply disruptions.”
President Ferdinand R. Marcos Jr. on Monday called on the DTI to ensure that basic goods remain affordable until Christmas.
At the recent Consumer Welfare Month Stakeholders Appreciation Night, the DTI asked manufacturers to hold the line on prices at least until the end of the year.
Under Republic Act 10623, which amended certain provisions of the Price Act, basic necessities are goods “vital to the needs of consumers for their subsistence and survival.” These include rice, corn, bread, fish, pork, beef, poultry, beef, eggs, vegetables and fruits.
The law defines key goods as “goods not considered basic necessities but necessary for consumers in times of need.” Such commodities include onions, garlic, oil, toilet soap, fertilizers, pesticides, light bulbs and electricity supplies. , Beatriz Marie D. Cruz
