Increase in prices of basic commodities now being felt

DTI continues to monitor the prices of products considered as basic commodities

Barely few days after the effectivity of the new tax reform law, an increase of prices of some commodities has been observed in some of the grocery stores and supermarket around the city.

The prices of sweetened beverages like carbonated drinks, energy drinks, sweetened tea and coffee, fruit drinks have increased alongside the prices of some basic commodities.

In one of the supermarket in the city, a popular brand of sweetened juice drink now sells at 16.50 per sachet or P5 pesos from its old price. Other sweetened juice drink brand, however, remained at its old price ranging from 8.75 to 10.25 only.

A 330ml can of soft drinks previously sold at P21 now costs P25.40. The small canned Century tuna which sold previously at P17.50 now costs P22.50.

A 1.5 ml of soft drinks now sells at P58 to P60, while 2 liters is at P 69.00. A 500ml bottle of soft drinks is now at 28 pesos from merely less than P20  before.

The price of canned goods has also increased. Kings Cup now fetches at P13.40 from only P12.25. Family’s Brand sardines is now sold at P12 from only P11.50. In one store, the sardines brand is now already at 14.50 from only P14.15.

Prices of products considered as basic commodities are among those subject of the monitoring of the Department of Trade and Industry (DTI), said Provincial Director Rosenda Fortunado.

Fortunado urged the public to remain vigilant as prices of some commodities are seen to increase with the passage of the new tax reform law that imposes excise taxes on some products.

“Dapat ang pagtaas ng presyo ay hindi malayo sa Suggested Retail Price (SRP)” the director said.

Proper price tagging is observed in most of the stores and supermarket in the city.

Prices of products sold at the sari-sari stores in the barangays are normally higher compared to the prices in the stores located in the city proper, many of which go beyond the SRP.

Percival Narborita of DTI -Palawan said that retailers who sold basic necessities and prime commodities at exorbitant prices and without price tags will be issued Show Cause Orders and directed to explain to their agency within 48 hours.

Failure to respond to the show cause orders will warrant the issuance of Notice of Violations (NOV).

He explained that this is pursuant to the Republic Act No. 7581 or the Price Act, which gives their agency the jurisdiction to ensure that the prices of basic necessities and prime commodities are at reasonable levels, and Republic Act No. 71 or the Price Tag Law, which requires that all consumer products sold in retail to the public shall have appropriate price tag, label, or marking indicating their prices and shall not be sold at a higher price than that stated on the price tag.

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