DTI: Basic goods’ prices remain stable

By , on January 23, 2015

Wikipedia Photo
Wikipedia Photo

MANILA — The Department of Trade and Industry found no increase in the retail prices of basic and prime commodities in the past three months.

Most goods remain below their suggested retail prices and have not increase for the said period, according to Trade Undersecretary Victorio Mario A. Dimagiba, who is in charge of the DTI’s consumer protection group.

The department added that they are now conducting a close monitoring on the prices given the trend in the price of petroleum products including diesel and gasoline.

Dimagiba said that the monitoring indicates that the prices of basic goods remain stable.

“The results of our monitoring activities show that the prevailing prices of 40 brands of basic and prime goods are at SRP (suggested retail price) levels and these remained unchanged [since] October 2014,” Dimagiba said.

In fact, some  products even showed a decline in price by 2 percent, according to a DTI monitoring data from December to the current month.

“With the continuing drop in the retail prices of diesel and gasoline, the DTI will continue its intensified price monitoring and enforcement activities in the market to ensure adequacy of supply and verify retailers’ adherence to the SRPs,” he said.