Voluntary price freeze on basic goods until July 10

SunStar Local News
SunStar Local News

CITY OF SAN FERNANDO---The voluntary price freeze initiated by manufacturers on select basic necessities and prime commodities (BNPCs) will last until July 10, 2024.

The announcement was made after the Department of Trade and Industry (DTI) welcomed additional commitments from major manufacturers to implement a voluntary price freeze for consumers amid rising prices of goods and impacts of the El Niño phenomenon.

Last month, the DTI launched the voluntary price freeze after meeting with manufacturers of BNPCs, where several companies voluntarily froze prices on select stock keeping units (SKUs) of canned meat, processed milk, and bottled water.

Monde Nissin, Alaska Milk Corporation, Nestlé, NutriAsia, Inc., and San Miguel Foods are the recent companies joining the voluntary price freeze now covering a wider range of 31 SKUs.

Additional commitments cover SKUs across six product categories: processed milk, processed canned meat or beef, bottled water, instant noodles, condiments, and coffee.

Brands included in the freeze are Lucky Me! Instant Mami, Liberty Condensada, Alaska Classic Sweetened Condensed Milk, Bear Brand Fortified Powdered Milk Drink, Nestle Carnation Condensada, Datu Puti Soy Sauce, Datu Puti Vinegar, San Mig Coffee 3-in-1 Original, Purefoods Chinese Style Luncheon Meat, and Star Corned Beef.

Prior to this initiative, automatic price freeze mechanisms were already in effect in various provinces and municipalities severely impacted by El Niño.

An automatic price control freezes the prices of basic necessities for 60 days in areas declared under a state of calamity or emergency as stated in Republic Act No. 7581 or the Price Act, as amended.

The DTI regularly updates its price guide, posted on the DTI Consumer Care social media pages, covering goods under the voluntary price freeze.

This move allows consumers to make informed choices when purchasing these essential goods.

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