No price hikes for basic goods until May 10 — DTI

MANILA, Philippines — Filipino consumers can expect no price hikes for basic necessities and prime commodities, that is, until May 10.

The Department of Trade and Industry (DTI) announced this Friday, citing commitment from manufacturers.

This extends the period during which manufacturers have agreed to defer price hikes despite rising costs. 

READ: Manufacturers won’t hike price of basic goods until April 30, says DTI

In earlier consultations with the DTI, manufacturers agreed to hold prices steady until April 16. This was later on extended until the end of the month.

Trade Secretary Cristina Roque said the decrease in fuel pump prices over the past week has allowed the DTI to secure another extension.

“Whatever decrease in cost will always help,” Roque said during a market monitoring sortie on Friday.

This assurance also comes despite there being no price freeze in effect. 

READ: DTI: No price freeze amid declaration of national energy emergency

Under Republic Act No. 7581 or the Price Act, automatic price controls apply only under specific conditions such as a state of calamity or similar emergency declarations.

The DTI monitors 726 variants of essential goods, including 196 stock keeping units covered by suggested retail prices.

These include canned sardines, canned meat, coffee, processed milk, instant noodles, condiments, laundry and toilet soap, candles, salt, batteries, bottled water and bread. INQ