Price freeze on basic necessities now lifted

Published May 18, 2020, 12:00 AM

by manilabulletin_admin

By MB Online

The Department of Trade and Industry (DTI) said that, as of Saturday, May 16, the prices of basic necessities are now back to the standard retail prices (SRPs).

DTI logo (Manila Bulletin)
DTI logo (Manila Bulletin file photo)

In a statement Sunday, the DTI said that this is because products that are considered part of the basic necessities are no longer under a 60-day price freeze, which started in March.

The products that were covered by the price freeze are canned fish and other marine products, locally made instant noodles, processed milk, bread, bottled water, coffee, salt, candles, laundry soap, and detergent.

DTI Secretary Ramon Lopez that lifting of the price freeze will not affect their continued efforts to monitor the prices of products.

The price freeze on basic goods was imposed almost coinciding with the implementation of the enhanced community quarantine in Metro Manila and eventually in Luzon.

The move was meant to ensure that no unscrupulous businessman will take advantage of the situation and jack up prices of products that will be on high demand because of the lockdown.

Lopez said that they will continue to work with the Department of Agriculture and the Department of Health to ensure that this does not happen.