Price monitoring intensified

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The Department of Trade and Industry (DTI) yesterday said it has tightened its surveillance and monitoring activities to ensure compliance among commercial establishments and supermarkets amid rising prices of goods.

The move follows the recent issuance of an updated suggested retail price (SRP) bulletin for basic necessities and prime commodities (BNPCs) as well as school supplies.

But the DTI said it is just one of the implementing agencies of the Price Act or Republic Act No. 7581s with the DTI Secretary as the Chairman of the National Price Coordinating Council. DTI is mandated to coordinate and rationalize government programs aimed to stabilize prices and supplies of commodities.

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The DTI also explained it only monitors the prices and supply of canned fish and other marine products, processed milk, coffee, bread, salt, laundry soap, detergent, candles; and prime commodities such as flour, processed and canned pork, processed and canned beef, and poultry meat, noodles, vinegar, patis, soy sauce, toilet paper, soap, and school supplies.

It said the Department of Agriculture is primarily responsible for monitoring the prices of agricultural produce such as rice corn, cooking oil, fresh, dried fish and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, chemicals such as herbicides, pesticides, and fertilizer, as well as veterinary products and swine and cattle feeds. The Department of Health is in charge of drugs and medicines.

“The Department has a system of monitoring the prices of basic necessities and prime commodities in accordance with the provisions of the Price Act. Our Fair Trade Enforcement Bureau conducts weekly monitoring to check the prices and supplies of BNPCs. This serves as the basis for the issuance of SRP,” said DTI Secretary Alfredo Pascual.

For some stock keeping units with prices above SRP, especially during calamities, DTI issues letters of inquiry to concerned establishments giving them the opportunity to explain. Show cause orders are also issued to supermarkets and groceries selling goods priced over 10 percent from the monitored price, which is a prima facie evidence of profiteering.

The Price Act places an automatic price freeze of basic necessities over areas where there is a declared State of Calamity or Emergency. From January 2020 to July 2022, 9 administrative cases have been filed against firms that violated the DTI price freeze orders.

The President may likewise impose a price ceiling on any basic necessity or prime commodity, which may be monitored by an appointed agency.

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