THE Department of Trade and Industry (DTI) said makers of basic necessities and prime commodities have committed to keep prices steady even with the approach of the year-end holidays and the accompanying spike in demand.
In a statement on Tuesday, the DTI said manufacturers and retailers have promised to observe the current suggested retail price for basic goods.
“To ensure price stability, DTI intensifies regular market monitoring and enforcement activities nationwide through its Fair Trade Enforcement Bureau and regional and provincial offices to prevent overpricing, profiteering, and supply disruptions,” it said.
President Ferdinand R. Marcos, Jr. on Monday called on the DTI to ensure that basic goods remain affordable in the runup to Christmas.
At the recent Consumer Welfare Month Stakeholders’ Appreciation Night, the DTI also 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 sustenance and existence.” These include rice, corn, bread, fish, pork, beef, poultry, meat, eggs, vegetables, and fruit, among others.
The law defines prime commodities as “goods not considered basic necessities but are essential to consumers in times of need.” Such items include onions, garlic, oil, toilet soap, fertilizer, pesticides, light bulbs, and electrical supplies. — Beatriz Marie D. Cruz