Price watch group, Laban Konsyumer, has filed an appeal before the Department of Trade and Industry (DTI) to lower the suggested retail price (SRP) of prime commodities following the easing down of the Philippines’ inflation rate.

Based on the latest report of the Philippine Statistics Authority (PSA), the country’s inflation rate has gone down to three percent in April – the lowest since January 2018.

Laban Konsyumer president Vic Dimaguiba said it is high time for the DTI to come up with a new SRP and that prices of a number of products; such as canned sardines, instant noodles, soaps, bottled water and other condiments, should have already been reduced.

“Ang amin pong panawagan eh napapanahon na para maramdaman naman ng mga consumer yang three percent inflation sa pamamagitan ng pagbaba ng presyo sa mga pangunahing bilihin [Our appeal is this. It is already high time that the consumers feel the three percent inflation thru the lowering of prices of basic commodities],” Dimaguiba added. (with details from Joan Nano) /mbmf

DTI Undersecretary Ruth Castelo inspects Obrero Public Market

MANILA, Philippines – The Department of Trade and Industry (DTI) accosted several vendors at Obrero Public Market for not putting appropriate price tags on their products.

“Lagyan ninyo ng presyo, kung hindi iisyuhan nila kayo ng notice of violation. Lagyan niyo ng price tag itong tinda ninyo,” said Undersecretary Ruth Castelo from DTI’s Consumer Protections Group.

Castelo emphasized the importance of price tags to prevent traders from overpricing and taking advantage of the consumers.

“Lahat ng paninda dapat may presyo para sa kaalaman ng consumer para walang deception para maiwasan natin ang paiba-iba sila ng presyo; naka price tag dapat,” she added.

The DTI, meanwhile, said consumers should be informed that prices of chicken meat, vegetables and rice have already dropped.

Currently, the price of chicken is at P120/kg.

However, since there is no suggested retail price (SRP) on vegetables, the DTI calls on consumers to report anyone who engages in overpricing.

Meanwhile, National Food Authority (NFA) Officer in Charge Tomas Escarez said consumers may expect a much lower price of rice in the coming days.

Currently, the SRP on rice still remains at P27/kg for NFA rice; P39 to P47/kg for local well-milled rice; and P39 to P43/kg for imported rice. There is no SRP, however, for special rice.

The NFA said they are continuously monitoring rice prices in local markets against profiteering.

“By November 10 iikot kami.  May mga penalty na na ibibigay tayo,” Escarez said.

Meanwhile, the DTI guided consumers that SRPs on prime commodities are expected to be posted in grocery stores.

As the holiday season draws near, the agency said prices of holiday products are now starting to mark up such as mayonnaise, keso de bola and ham. – Marje Pelayo (with reports from Grace Casin)

MANILA, Philippines – The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) will set a price ceiling for traders and middlemen to regulate price increases.

Measures will also be imposed to minimize intermediary layers to avoid a sudden spike in market prices.

The DTI is now collating the names of traders before setting a general meeting where the new regulations will be laid out.

Meanwhile, during an inspection in major markets this morning, DTI USec. Ruth Castelo said a number of products were still being sold at a price higher than the agency’s suggested retail price.

“Iyong presyo sa palengke at presyo ng traders hindi sumasabay sa presyo sa farm,” Castelo said.

At Mega Q-Mart in Quezon City, for instance, prices of red onions are higher by P20.00 than the SRP; white onions have a P25.00 mark up; garlic has P10.00, and round scad or galunggong are sold P20.00 higher than the agency’s SRP.

Traders of items with prices higher than the SRP were given notice of inquiry to explain.

Meanwhile, the DTI will release the updated expanded SRP tomorrow (September 1) which includes additional brands that requested for price hike prior to the start of the three months price freeze. – Mon Jocson / Marje Pelayo