The prices of basic necessities and prime commodities are expected to increase by January 2024, Department of Trade and Industry (DTI) Asec. Amanda Nograles confirmed on Wednesday, Dec. 27.
Interviewed during DZRH Balansyado, Nograles said each manufacturer's notice of price adjustment would be approved individually by the trade industry department.
“Beginning 2024, hindi na mapipigilan ng DTI ang pagtaas ng presyo ng basic necessities and prime commodities [....] Ang matutulong ng DTI sa consumers ay sisiguraduhin na hindi sabay-sabay [ang pag-approve ng notice of price adjustment]. Isa-isa lang. Kung sino ang unang nag-apply, ‘yun ang unang i-a-approve,” she added.
Usec. Amanda Nograles, DTI: Beginning 2024, hindi na mapipigilan ng DTI ang pagtaas ng presyo ng basic necessities and prime commodities. #Balansyado#SamaSamaTayoPilipino
— DZRH NEWS (@dzrhnews) December 27, 2023
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The DTI official said a total of 18 manufacturers filed for an increase, but the exact products and the percent increase could not be disclosed yet amidst pending discussion.
Nograles admitted that there was supposed to be a price increase in basic necessities and prime commodities this 2023, noting that manufacturers had filed their petitions early.
“Sa katunayan, ang manufacturers natin early 2023 pa sila nag-file ng notice of price adjustment. Dapat inaasahan nila na 2023 pa siya nagtaas ng presyo,” she said.
“Pero dahil sa efforts ni Sec. [Alfredo] Pascual, napigilan ang pagtaas ng presyo nila. Ang ilan sa kanila, nag-withdraw ng notice of price adjustment” the DTI official added.
In September, Pascual convened with the manufacturers in a meeting in which it was agreed that the price increase would be temporarily held off.
According to Nograles, the manufacturers had cited the increasing production cost, raw materials, labor, and distribution cost as reasons behind their request to hike prices.
She then clarified that the trade department has no power to set the prices of basic necessities and prime commodities.
“Kasi we are a free market, ang manufacturer, malaya silang magset ng price. Nire-regulate lang natin ang pag-price adjustment ng mga tinatawag nating basic necessities and prime comorbidities,” she explained.
