Thursday, May 18, 2006
Prices of basic goods in city remain stable
DESPITE the series of increases noted in the prices of petroleum products, the costs of basic and prime commodities in Davao City have remained stable, the Department of Trade and Industry (DTI) Southern Mindanao said.
Per monitoring conducted by DTI-Davao City Field Service Division for the period April 4 to May 3, prevailing prices of prime and basic commodities have remained unchanged except for some products that have incurred very minimal escalation.
Among these products are Hakone sardines, which posted a two percent increase, from P9.80 to P10.00; Mr. Clean detergent bar by 1.9 percent, from P15.35 to P15.65; Purefoods Chinese style luncheon meat (165 grams) by 1.1 percent, from P22.70 to P22.95; and cement by 4.7 percent, from P170 to P178.
On the other hand, some commodities have manifested price decrease such as Angel Evaporada by 0.9 percent, from P27.50 to P27.25; Alaska powdered milk (80 grams) by 0.2 percent, from P17.85 to P17.80; and Lorins patis by 1.1 percent, from P17.70 to P17.50.
DTI regional director for Southern Mindanao Merly M. Cruz said the agency will continue and even strengthen its monitoring activities so that unwarranted price increases will not happen.
"Our monitoring team is going out every week to check if there are changes in the costs of various commodities that we have jurisdiction of. And in monitoring, we are also looking into the possibility of overpricing and other unscrupulous activities that are against the Consumer Act of the Philippines," she said.
The Consumer Act of the Philippines or Republic Act No. 7394 was enacted to protect the interests of the consumer from trade malpractices and from substandard or hazardous practices, promote his general welfare and to establish standards of conduct for business and industry.
Meanwhile, the Price Act of the Philippines or Republic Act No. 7581 protects consumers by stabilizing the price and supply of basic necessities and prime commodities without denying legitimate business a fair return on investment and by prescribing measures against undue price increases especially during the emergency situations and similar occasions.
For Bisaya stories from Davao. Click here. (May 18, 2006 issue)
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