DTI: No price hike for basic, prime goods until April 30

The Department of Trade and Industry (DTI) on Wednesday assured consumers that there is no need for panic buying as there will be no price hikes for basic necessities and prime commodities until the end of the month.

This was after the DTI met with various manufacturers last April 6.

“We want to assure the Filipino consumers that there will be no price increase for basic necessities and prime commodities until April 30, and we do not expect any shortage of supply in the coming weeks,” DTI Secretary Ma. Cristina Roque said in a statement.

“There is no need for panic buying, as supply remains sufficient. Rest assured, the DTI is on the ground every day, closely monitoring markets to make sure basic goods are available and prices stay affordable,” she added. 

The agreement covers products such as canned sardines, processed milk, bread, coffee, locally-manufactured instant noodles, bottled water, laundry soap, candles, salt, canned meat, condiments, and toilet soap with suggested retail prices (SRP).

The DTI said official SRP bulletins are accessible in supermarkets and groceries nationwide, as well as through its official website and social media platforms. 

“While no enforcement actions have been necessary so far, the mechanisms are fully in place,” it said.

The DTI also maintained that it is prepared to issue Letters of Inquiry/Notice of Violation to businesses found selling above SRP levels.

It warned that strict penalties will be imposed on entities engaged in illegal price manipulation, such as hoarding or profiteering. — JMA, GMA News