ONLY seven out of 187 commercial products monitored in Central Visayas have seen price increases, said the Department of Trade and Industry (DTI) 7 yesterday.
The DTI 7 made the statement in response to reports that there is a rampant increase in the prices of goods in some commercial products as an effect of the Tax Reform for Acceleration and Inclusion (Train) law.
But DTI 7 Director Asteria Caberte clarified that the price increase of the seven products--mostly canned goods and condiments--are only two to 10 percent.
“It’s very minimal and not alarming,” Caberte told reporters yesterday.
Caberte was at the Cebu Provincial Capitol yesterday to meet with local officials for the planned convening of the Provincial Price Coordinating Council which will be led by Cebu Gov. Hilario Davide III.
Caberte said the increase in prices of canned goods such as sardines and canned meat is attributed not to the Train Law but to other factors, such as the increase in the price of steel used to manufacture cans.
Though they have secured commitments from manufacturers and retailers in large-scale industries in the national level to hold on to the prevailing retail prices for the next three months, Caberte said they still need to bring it to the regional level.
She hopes that the PPCC will be able to convince local retailers to do the same.
Caberte said that upon the convening of the PPCC today, Davide wants to gather DTI and other national government agencies that govern food security and pricing to ensure that Cebuanos will not suffer from sudden price increases on basic commodities.
For DTI, Caberte said they are closely monitoring the movement of prices of 187 products.
Caberte, however, said that even retailers in Cebu are doing their part to ensure that consumers will not suffer.
One thing that retailers in Cebu and the rest of the region do is not increasing the cost of their products due to competition and absorbing the cost to keep their customers, Caberte added. (JKV)