DTI: Prices of goods stable; supply adequate

The Department of Trade and Industry reported that prices of goods have remained stable and within the suggested retail price.

DTI also said the supply of goods remain adequate amid the implementation of price control in areas under state of calamity.

During a price monitoring visit at the Mega-Q Mart in Quezon City, Trade Sec. Gregory Domingo said prices of basic necessities and prime commodities continue to be stable, except for price increases in vegetables and galunggong.

Galunggong's price rose from Php 110 to Php 120 per kilo due to the bad weather condition.

Domingo said there is no panic buying in supermarkets.

He added that shortage of instant noodles and canned sardines is due to bulk buying for relief operations.

"Owners of supermarkets, wet markets, and major manufacturers assured us there is enough supply and there is no panic buying happening," he said.

To further avoid supply shortage, DTI will meet manufacturers for the possible setup of a supply center where goods may be sourced for relief operations instead of supermarkets.

Domingo also said automatic price freeze will be implemented in areas declared under state of calamity.

During a prize freeze, prices of goods remain at prevailing prices until the state of calamity is lifted.

Currently, the areas declared under state of calamity are Caloocan, Malabon, Marikina Muntinlupa, Navotas, San Juan, Pasig, Pasay, and Valenzuela in the National Capital Region; Bataan, Pampanga, Zambales and Bulacan in Region 3; Laguna in Region 4A; and Culion, El Nido and Linacapan in Palawan in Region 4B.

The secretary said DTI is closely monitoring the prices of canned sardines in the Navotas-Malabon area.

"We are working with the LGUs and in monitoring the prices of goods to ensure that retailers do not violate price control," he said. - PIA — ARA