DTI-Central Visayas asks 89 business firms to explain ‘overpricing’

CEBU CITY –– The Department of Trade and Industry in Central Visayas (DTI-7) has called out the attention of 89 business establishments in the region for selling basic commodities “above the price ceiling” while the country is placed under a State of Public Health Emergency.

DTI Cebu Provincial Director Rose Quinanola said her office checked on-the-spot the prices of 103 major supermarkets and grocery stores in Cebu and found that 29 of them have higher prices than what was expected.

They found the same trend in 17 stores in Negros Occidental and 43 in Siquijor.

Quinanola said they issued “Letters of Inquiry (LOI)” to store managers asking them to explain why their prices are higher than the price ceiling imposed in their respective localities.

While most of the establishments in Cebu have already adjusted their prices back to the price ceiling, she said they would continue to monitor these stores.

In Siquijor Province, 43 grocery stores were also sent LOIs asking them to explain the higher prices.

DTI Siquijor Provincial Director Angeline Gonzales said most of the 43 stores reasoned out that their suppliers have also increased their prices. They, however, have brought down their prices back to the price ceiling.

In Negros Oriental, at least 17 establishments were also called out for higher prices of basic goods.

In a separate statement, DTI-7 said it would continue to monitor establishments regularly, especially when the country is still under a health emergency because of COVID-19.

Under the law, the price ceiling is imposed on basic commodities like laundry soap, detergent, canned fish, processed milk, coffee, bottled water, and rice.

The prices of medicines, on the other hand, are monitored by the Food and Drug Administration.