Gatchalian urges DTI, DA to closely monitor prices of basic goods
Published Dec 9, 2019 12:00 am
By Hannah Torregoza
Senator Sherwin Gatchalian has urged the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) to closely monitor the prices of basic goods and commodities this month as Filipinos celebrate the Yuletide season.
Sen. Sherwin Gatchalian
(Senate of the Philippines / FILE PHOTO / MANILA BULLETIN) Gatchalian pointed out that December is a “consumption-driven” month and expects inflation to further increase as the country prepares for Christmas. “Following a higher inflation rate in November, we expect inflation to pick up further in December as we head closer to Christmas. December is usually a consumption-driven month as Filipinos tend to shop for more goods in time for the holiday festivities,” Gatchalian said in a statement. “We also have to take into consideration the possible supply deficiency in the offing after Typhoon ‘Tisoy’ destroyed agricultural crops. Prices of fish have also gone up,” the senator said. That is why, he said, the DTI and the DA should closely guard the prices of basic goods and commodities to protect Filipino consumers against unscrupulous trade practices. “Kaya naman tinatawagan natin ang DTI and the Department of Agriculture (DA) na bantayang mabuti ang presyo ng mga pangunahing bilihin sa merkado ngayong buwan para maiwasan ang mga mananamantala at para mas maging masaya ang kapaskuhan ng mga mamimili (We call on the DTI and the DA to closely monitor the prices of basic goods in the market this month to prevent those who would take advantage and to ensure that all our consumers would be happy this Christmas),” he said. The latest Philippine Statistics Authority (PSA) report showed that prices of widely used goods rose by 1.3 percent in November. This was slightly higher than the 0.8 percent October inflation rate but lower than the 6 percent inflation rate in the same month last year. The higher annual increase in alcoholic beverages and tobacco contributed to the uptrend in inflation last month, but the November inflation rate remains within the government expectation of 0.9 percent to 1.7 percent range.
Sen. Sherwin Gatchalian(Senate of the Philippines / FILE PHOTO / MANILA BULLETIN) Gatchalian pointed out that December is a “consumption-driven” month and expects inflation to further increase as the country prepares for Christmas. “Following a higher inflation rate in November, we expect inflation to pick up further in December as we head closer to Christmas. December is usually a consumption-driven month as Filipinos tend to shop for more goods in time for the holiday festivities,” Gatchalian said in a statement. “We also have to take into consideration the possible supply deficiency in the offing after Typhoon ‘Tisoy’ destroyed agricultural crops. Prices of fish have also gone up,” the senator said. That is why, he said, the DTI and the DA should closely guard the prices of basic goods and commodities to protect Filipino consumers against unscrupulous trade practices. “Kaya naman tinatawagan natin ang DTI and the Department of Agriculture (DA) na bantayang mabuti ang presyo ng mga pangunahing bilihin sa merkado ngayong buwan para maiwasan ang mga mananamantala at para mas maging masaya ang kapaskuhan ng mga mamimili (We call on the DTI and the DA to closely monitor the prices of basic goods in the market this month to prevent those who would take advantage and to ensure that all our consumers would be happy this Christmas),” he said. The latest Philippine Statistics Authority (PSA) report showed that prices of widely used goods rose by 1.3 percent in November. This was slightly higher than the 0.8 percent October inflation rate but lower than the 6 percent inflation rate in the same month last year. The higher annual increase in alcoholic beverages and tobacco contributed to the uptrend in inflation last month, but the November inflation rate remains within the government expectation of 0.9 percent to 1.7 percent range.