DTI monitors implementation of 60-day price freeze in Ilocos Norte

By Leilanie G. Adriano

Staff Reporter

Laoag City—Following the declaration of 60-day price freeze in all areas declared under State of Calamity including Ilocos Norte, the price monitoring team of the Department of Trade and Industry (DTI) based in the province are now checking commercial establishments here to ensure no price hike in basic commodities.

Provincial DTI chief Benjamin Garcia said prices of non-agricultural basic necessities such as canned goods, evaporated milk, condensed milk, powdered milk, coffee, laundry bar and detergent, instant noodles, bread, salt, candles, and bottled water are frozen at their prevailing prices.

Prices of agricultural basic necessities such as rice, corn, cooking oil, fresh and dried fish and other marine products, fresh eggs, pork, beef, poultry, fresh milk, fresh vegetables and fruits, root crops, and sugar are also frozen at their prevailing prices.

Under Republic Act No.10623 or the Amended Price Act, liquefied petroleum gas (LPG) and kerosene are also covered by the price freeze.

DTI particularly states only basic necessities are covered by the price freeze. Their prices must conform to the prevailing prices before the declaration of State of Calamity, and should not exceed the Suggested Retail Prices (SRPs). As for non-agricultural prime commodities such as canned pork, beef and chicken, vinegar, fish sauce, soy sauce, bath soap, and battery, prices of these products must adhere to their respective SRPs.

The prevailing price is the most observed monitored price of a product prior the hit of typhoon and declaration of State of Calamity.

All products covered by the price freeze and their corresponding prevailing prices will be disseminated to all concerned Local Price Coordinating Councils (LPCCs), published in local newspapers, and uploaded in the DTI website (www.dti.gov.ph) within the week.

Pursuant to Republic Act (RA) No. 7581, as amended by R.A. 10623, penalties for violation against the price freeze include the imposition of fine of P5,000.00 up to P1,000,000.00 and/or imprisonment of one (1) year up to ten (10) years.