DTI notes 50-centavo spike on price of canned goods

MANILA, Philippines—Slight increase on price of canned goods and other basic goods have been incurred due to the congestion in the Manila International Container Port (MICP) and the strict implementation of the truck ban in the City of Manila, according to Department of Trade and Industry (DTI) Consumer Protection Group Undersecretary Vic Dimagiba in an interview over Radyo Inquirer 990 AM on Friday.

“We acknowledge that the congestion in the Manila International Container Port and the strict implementation of traffic rules in the City of Manila affected the distribution and release of raw materials used in the production of goods,” said Dimagiba.

He added a 3-to-4-percent increment was noted in the price of basic goods, amounting to a price increase of 50 centavos per can.

DTI expects that by August 16, MICP will resume normal operations.

The inflation rate shot up to 4.9 percent last July, the highest since November 2011. Dimagiba cited that one major factor of the upsurge of the inflation rate is the continued increase on the price of rice. He said the price of food forms 60 percent of the computation of the inflation rate.

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