The Department of Trade and Industry (DTI) said it has secured the backing of local manufacturers to keep prices of basic necessities and prime commodities stable until the end of the year, ensuring that there will be no price surge during the holiday season.

Acting on the order of President Ferdinand R. Marcos Jr., the DTI said it has successfully coordinated with the country’s leading manufacturers and retailers to maintain the current suggested retail prices (SRP) imposed by the government.

“The DTI assures the public that prices of basic necessities and prime commodities will remain stable until the end of 2025,” the agency said in a statement on Tuesday, Oct. 28.

In a radio interview, Trade Secretary Cristina Roque said many of these manufacturers had earlier sought the DTI’s concurrence for their proposals to raise prices.

However, she said they are amenable to holding off any increases for now, while ensuring that the quality of their products remains the same.

Roque was earlier directed by Marcos to coordinate with manufacturers to maintain current price levels and prevent unwarranted price hikes.

This is in line with the President’s directive for the DTI to implement a “price freeze” on basic and prime commodities to ensure price stability, especially during the holiday season when demand is typically at its highest.

Typically, the government only imposes a price freeze on prevailing prices of basic necessities following the declaration of a state of calamity, as provided under the Price Act.

Moreover, Marcos also asked the DTI to ensure the strict monitoring and implementation of the maximum SRP for essential food items.

Roque assured the public that these food items, including other products covered by the government’s SRP, will see no increases within the year.

The products covered by the price freeze include basic necessities such as canned sardines, powdered milk, bread, salt, detergent soap, bottled water, and candles.

Also included are prime commodities such as luncheon meat, corned beef, condiments, toilet soap, and batteries.

The DTI last updated the SRP in February, which included price increases for 63 goods to address concerns of manufacturers regarding soaring prices of raw materials.

The DTI, through its Fair Trade Enforcement Bureau (FTEB), will conduct regular market monitoring and enforcement activities nationwide to ensure that the prices of these products remain stable.

In particular, the agency’s regional and provincial offices will monitor markets to prevent overpricing, profiteering, and supply disruptions.