Upon lifting of the price freeze, the Department of Trade and Industry informs all manufacturers, retailers, distributors, and consumers that basic necessities will now be sold at their suggested retail prices (SRPs) based on the Sept. 30, 2019 list.
Following Proclamation 1143, prices of basic necessities were placed under automatic price control or automatically frozen at their prevailing prices due to the outbreak of African swine fever. The price freeze lasted 60 days, beginning May 10 and ending on July 9.
“Although the price freeze on basic necessities will be lifted, the DTI assures the consuming public of continuing and constant communication with the manufacturers and retailers of these goods to ensure that their prices are reasonable and that supply is stable and available in the market,” DTI Consumer Protection Group Usec. Ruth B. Castelo said.
Products under basic necessities include canned sardines in tomato sauce, luncheon meat, meatloaf, beef loaf, corned beef, processed milk, coffee, bread, locally manufactured instant noodles, salt, detergent soap/laundry soap, toilet soap, bottled water, candle; and condiments such as vinegar, soy sauce, and fish sauce.
The SRP list for these products is available at the DTI website for the information and guidance of retailers, distributors, and consumers nationwide.
With the lifting of the price freeze, the DTI-Fair Trade Enforcement Bureau and regional and provincial offices will continue their intensified monitoring and enforcement activities in their respective areas to determine the compliance of establishments with the provisions of Republic Act 7581 or the Price Act, as amended by RA 10623 or “An Act Amending Certain Provisions of RA 7581, entitled An Act Providing Protection to Consumers by Stabilizing the Prices of Basic Necessities and Prime Commodities and by Prescribing Measures against Undue Price Increases during Emergency Situations and Like Occasions and for other Purposes.”
With this, the DTI reminds business establishments to follow the latest SRPs of basic necessities and prime commodities and warns those who will be committing any acts of illegal price manipulation such as hoarding, profiteering, and cartel.
Based on the Price Act, those found engaging in illegal price manipulation shall suffer the penalty of imprisonment for a period of not less than five years but not more than 15 years, and shall be imposed a fine of not less than P5,000 but not more than P2 million.
To report business establishments that sell basic necessities and prime commodities beyond the SRPs, consumers may call the One-DTI (1-384) hotline or send an email to [email protected]. – Press release
April 25, 2024
