The Department of Trade and Industry (DTI) has ensured that some 80 basic goods covered by 41 manufacturers will have their prices frozen for the next three to nine months.
In a news statement issued on Thursday, the DTI announced the list of manufacturers that vowed to keep the prices of their products stable for the next months. Trade Undersecretary Ruth B. Castelo said producers have been cooperative with the government in containing prices at reasonable levels.
Overall, 14 canned sardines are expected to have their prices stabilized for the next three months. These are Ligo, Hakata, 555, Rose Bowl, Saba, Young’s Town, Mega, King Cup, Toyo, Family, Master, Atami, Mikado and Hakone.
Further, 10 canned meat goods—Ligo, CDO, Bingo, Argentina, 555, Young’s Town, Purefoods, Gusto, Winner and El Rancho—will also have stable prices. Apart from this, 10 processed milk brands have acceded to the DTI’s appeal to keep prices in control for the Christmas season.
The milk brands are Alaska, Carnation, Milkmaid, Alpine, Liberty, Cowbell, Birch Tree Powdered Milk, Angel Evaporated Milk, Anchor Powdered Milk and Bear Brand Powdered Milk. Moreover, prices of 11 bottled water will be kept at its present level for the next months.
These are Summit, Absolute, Wilkins, Viva, Nature’s Spring, Supersavers, Robinsons Mall, Magnolia, SM Bonus, Refresh and Hidden Spring.
Covered in the private sector-led price freeze are two brands of bread; three toilet soaps; eight detergent and laundry soaps; six coffee refill; two batteries; five condiments; four candles; four instant noodles; and one salt.
“Over the years, the manufacturers have been very cooperative with the DTI. During times of calamity, they are the first to help the government in ensuring that supply of basic and prime goods are available in areas hit by typhoon or any other natural calamity. We assure the consumers that the department and the manufacturers will continuously work together to guarantee that prices of basic and prime goods are kept at reasonable levels,” Castelo said.
The vow to keep prices stable comes at a time when manufacturers are reportedly expecting an increase in their cost of production owed to rising prices of raw materials and peso devaluation. However, the DTI appealed to them to postpone any price calibration given the country’s rising inflation.