Friday, June 8, 2018
DTI Augments Prices and Supply Monitoring of Basic and Prime Goods
The Department of Trade and Industry monitored 43 groceries and supermarkets on Wednesday, 06 June 2018, to check if prices of basic necessities and prime commodities are sold within Suggested Retail Prices (SRPs).
“Upholding our commitment to ensure consumers’ access to reasonably-priced basic and prime goods, the DTI intensifies its price monitoring efforts by increasing the number of firms that the Department will monitor to 1,210 business establishments nationwide. 610 firms are now being monitored in NCR and 600 more across the rest of the regions,” said DTI Secretary Ramon M. Lopez.
The price monitoring activity led by the Fair Trade Enforcement Bureau (FTEB) of the DTI covered the cities of Quezon, Taguig, Las Piñas, Malabon, Pasig, Marikina, Mandaluyong, Caloocan, Parañaque, and Manila.
Two (2) groceries in Parañaque and Marikina were issued with Letters of Inquiry for selling one brand of laundry soap higher than the SRP. This requires the groceries to submit a written explanation within 48 hours before the DTI.
Per verification, the subject laundry soap brand had recently submitted a proposed price adjustment before the Department. Pursuant to DTI Department Administrative Order No. 17-09, Series of 2017 on the implementation of SRP of basic and prime goods, any price adjustment can only take effect after 30 days from date of notification to provide a period of review by the DTI in determining reasonableness for its price increase.
The written explanation that will be submitted by the monitored groceries will greatly aid the DTI in addressing the variables that are affecting prices of basic and prime goods.