DTI sets 60-day nationwide price freeze on basic goods

MANILA, Philippines — The Department of Trade and Industry (DTI) on Friday ordered a 60-day freeze on the prices of basic necessities nationwide, following President Ferdinand Marcos Jr.’s declaration of a state of national calamity.

Marcos had asked the DTI to halt any price hikes for basic goods until year-end due to the ravages of Typhoon Tino across the Visayas and the projected landfall of a potential super typhoon, Uwan.

READ: Marcos orders price freeze on basic goods until yearend

“The price freeze will remain in force for 60 days, or until lifted by the president. The DTI has coordinated with all key NPCC (National Price Coordinating Council) implementing agencies to protect consumers during this critical period,” the DTI said.

Marcos placed the Philippines under a state of national calamity on Thursday.

READ: Marcos declares nat’l calamity ahead of possible super typhoon

Before this, the DTI had already imposed a 60-day price freeze due to Typhoon Tino, but only in selected areas such as Guiuan in Eastern Samar, Cebu City, and Dinagat Islands.

The trade industry said it was working with all relevant agencies to ensure the price freeze is implemented and that supply will be sufficient nationwide.

“The DTI is working round-the-clock with manufacturers, retailers, and distributors to ensure sufficient and steady stock of basic necessities and prime commodities,” it said.

“All DTI Regional and Provincial Offices are on heightened alert and mobilized to enforce compliance with the price freeze and maintain adequate supply nationwide.”

Latest figures from the National Disaster Risk Reduction and Management Council peg Typhoon Tino’s death toll at 188, while 139 more were injured. /dda