Philippines: Prices of basic necessities revert to SRP

Published 2021년 7월 13일

Tridge summary

The Department of Trade and Industry (DTI) has announced that the prices of basic necessities have reverted to their suggested retail prices following the end of a 60-day price freeze. The price freeze, which was implemented due to the African Swine Fever outbreak, ended on July 9, 2021. The DTI has pledged to continue monitoring prices and ensuring stability in the market. Products covered include staples such as canned fish, meat products, milk, coffee, bread, and instant noodles. The DTI has also warned businesses against illegal price manipulation and provided consumer reporting channels.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Prices of basic necessities (BN) are now back to their suggested retail prices (SRPs) following the expiry of the nationwide price freeze, the Department of Trade and Industry said. The DTI issued this advisory as the nationwide price freeze on basic necessities expired last July 9. The prices of basic necessities reverted to their SRPs effective last week, July 10, 2021. Following Proclamation No. 1143, prices of basic necessities were placed under automatic price control or automatically frozen at their prevailing prices due to the outbreak of African Swine Fever. The price freeze lasted 60 days, beginning 10 May 2021 and ending on 09 July 2021. “Though the price freeze on basic necessities will be lifted, the DTI assures the consuming public of continuing and constant communication with the manufacturers and retailers of these goods to ensure that their prices are reasonable and that supply is stable and available in the market,” DTI Consumer Protection Group Undersecretary ...

Source: Mb