Price freeze in effect


    The Department of Trade and Industry (DTI) said price freeze is in effect in areas declared under state of calamity following the devastation of Typhoons Rolly and Quinta last week.

    DTI Secretary Ramon Lopez said the price freeze covers Albay, Batangas, Oriental Mindoro and Cavite.

    Prices of basic and prime commodities are frozen at levels before the declaration of a state of calamity. These include canned goods, instant noodles, coffee, milk etc.

    Fines range from P1,000 to P2 million.

    Lopez said the current suggested retail prices should prevail in supermarkets and groceries on manufactured goods monitored by the DTI.

    He added construction materials are also covered by the price freeze to avert profiteering in anticipation of repairs of houses and buildings damaged by the typhoons.

    Lopez said there has been no major disruptions in the movement of goods in areas hit by the typhoons, ensuring continuous supply.