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DTI intensifies supermarket price monitoring

Department of Trade and Industry (DTI) Secretary Ramon Lopez on Sunday said the agency has intensified its supermarket monitoring amid fears of rising prices of basic commodities due to the tax reform law.

Lopez told Super Radyo dzBB that the department is monitoring 400 supermarket every week to make sure no one will exceed the suggested retail price (SRP) of basic goods.

"So far iyong mga binabantayan natin na manufactured products na basic necessities, wala namang nagba-violate sa above SRP," he said.

He said the DTI constantly reminds supermarket owners that they cannot go beyond the SRP of basic commodities and other goods set by the government.

Meanwhile, Lopez said consumers should opt for goods being sold at supermarkets, which are being closely monitored by the DTI.

"Pumunta sila sa mga paboritong grocery and supermarket kasi doon talagang very stable ang presyo... Takot silang mag-increse ng above SRP dahil tinatanggal ang produkto sa shelf at hindi nila maibebenta iyon," he said.

Socioeconomic Planning Secretary and National Economic and Development Authority chief Ernesto Pernia admitted earlier this month that the surge in inflation is "partly an initial reaction to the implementation of the TRAIN (Tax Reform for Acceleration and Inclusion)."

He said the inflation's increase would be "short-lived" and is expected to stabilize in the coming months.

The Philippines Statistics Authority reported that headline inflation accelerated to 4.5 percent in April, faster than the 4.3-percent recorded in March and the 3.2 percent in April 2017.

This brings the year-to-date average to 4.1 percent, slightly above the full-year target of 2.0-4.0 percent. —ALG, GMA News