THE Department of Trade and Industry (DTI) is not currently considering any price increase for the products covered by its basic necessities and prime commodities (BNPC) monitoring, keeping government-monitored prices stable despite recent volatility in fuel and transport costs.
Trade Secretary Ma. Cristina A. Roque said Monday that the agency has yet to receive requests from manufacturers to raise prices of BNPCs.
‘So far, we have no request yet for BNPC, so the prices of food are stable,’ Roque told reporters in Makati after the signing of an agreement covering financing for small businesses and electric vehicles.
The DTI said it currently monitors about 204 stock-keeping units (SKUs) of BNPCs. Meanwhile, the latest SRP bulletin posted on the agency’s website is dated May 11.
The price outlook comes as fuel retailers announced pump-price rollbacks on Monday following three consecutive weeks of major increases, providing some relief from the recent rise in fuel costs.
Transport costs, meanwhile, have also come under pressure. Monday’s transport strike coincided with the implementation of a P1 fare increase for jeepneys, with a further P2 added for each succeeding kilometer.
The price situation is also being watched ahead of the holiday season, when consumer demand typically picks up.
Last October, President Ferdinand R. Marcos Jr. directed the DTI to implement a price freeze on basic necessities and prime commodities through the end of the year to help maintain price stability during the holiday season.
The arrival of the ‘ber’ months, however, does not automatically translate into a surge in supermarket sales.
In August, Philippine Amalgamated Supermarkets Association President Steven T. Cua said consumer demand typically remains subdued until the Christmas season.