DTI Guarantees “Friendly Price” on Holidays

Due to the COVID-19 pandemic, a lot of employees have lost their jobs and are now having a hard time to budget their income. The question is, will Christmas be merry for retrenched employees?

To stop additional burden to displaced employees and everyone affected by the pandemic, the Department of Trade and Industry (DTI) guaranteed that prices on basic goods will be stable during the Christmas season. DTI will be conducting price monitoring.

In October this year, when the country slowly entered the “new normal” status, price of basic goods and services increased slightly with a 2.5% inflation rate compared to 2.3% in the previous month.

DTI Secretary Ramon Lopez however, admitted that fish and pork products are still being limited due to different issues. Weather condition also contributes to the recent increase in inflation rate.

“With the present typhoon season, disruptions caused by these extreme weather conditions pose risks particularly to our food price stability and food security,” Lopez said.

The Department of Agriculture also reported recently that food supplies will be affected due to the pandemic and current weather disturbances.

Meanwhile, DTI will release a new Suggested Retail Price (SRP) for basic goods to help ensure business establishments will follow protocols and to prevent overpricing especially noche buena products. (MLC)