Department of Trade and Industry (DTI) Secretary Ramon Lopez advised the public on Monday to buy products in groceries and supermarkets where prices are more stable and generally follow the suggested retail price (SRP).
“Bumili kayo sa grocery or supermarket kung gusto niyong nakasunod sa SRP. Mas stable ang presyo (Buy in a grocery or supermarket if you want the SRP and where prices are stable),” Lopez said.
“May listahan po sila. Systematic sila. Yung iba, hindi systematic. Bara-bara lang (They have a list. They are systematic. The others are not as systematic),” he added.
Lopez explained that prices are generally higher in wet markets and stores selling non-branded goods and agricultural items.
While the Department of Agriculture (DA) and the DTI collaborate in price monitoring, he said it’s the DA which implements the rules and supervises the wet markets.
The DTI recently flagged down 85 products which were reportedly being sold at a higher price than the SRP. Of this number, 77 products are now selling at the SRP range.
The secretary noted that the fine for overpricing essential goods ranges from P5,000 to P1 million.
READ: DTI finds prices hikes of ‘few centavos’
According to the DTI, prices of basic commodities remain stable, even as a price increase of about 1% to 7% or about 10 to 50 centavos have been monitored for some products.
Since November 2017, the agency has been monitoring prices of prime goods. It said that out of the 101 products covering basic necessities on its list, only four have registered a minimal price increase.
“Sa mga minomonitor namin, apat lang ang nag-register ng mga 1 to7% [increase], palagay natin nasa 10 to 50 cents (Of the products we monitor, there were only four which registered a 1% to 7% price increase of about 10 to 50 centavos),” Lopez said.
Lopez asserted that the SRP of prime commodities, including canned sardines, bread, coffee, milk, detergent bars, has increased only by a few centavos.
“Stable po, walang paggalaw, yung gumalaw lang apat out of 101,” he emphasized. /ee — Syrah Vivien Inocencio