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Commerce Secretary Ramón López said Monday that the Department of Commerce and Industry (DTI) is evaluating producers’ request to increase prices for some Christmas Eve items and canned goods.
During Laging Handa’s public briefing, Lopez said some Christmas Eve manufacturers are requesting an increase that ranges from less than one percent to three percent.
“Every year, there are brands that request a price adjustment to cover cost increases. But in our experience also, of the more than 20 brands, there are generally around five brands that are requesting price increases, ”said López.
“Our consumer protection group is currently studying whether [request for price] the increase is reasonable. If not, the requested [price adjustment] will be adjusted. At the end of the day, consumers are advised to really select the products that we can consider to be good value for money, ”he added.
Aside from good night items, Lopez said some canned goods manufacturers are also requesting a price increase.
“There are requests for [manufacturers of] canned sardines, canned meat products, but we are also studying your requests. We cannot automatically approve [price adjustments] in the SRP (suggested retail price), especially if these are included in basic necessities and premium basic products, ”he said.
“Those that are not on the list are open to doing so, but for the price adjustments covered in the SRP list, DTI is closely monitoring them to protect consumers,” he added.
Meanwhile, the head of Commerce said the government is now allowing sales events to be held in shopping malls and businesses to further stimulate economic activity.
“We are allowing sales throughout the mall because we see that as we reopen, there are still few people going to the malls,” he said.
López revealed that after the reopening of the economy, almost 95 percent of
sectors are already operating.
“However, we continue to encourage work from home [arrangements]. We will issue a circular that will encourage companies to apply the staggered shift system. This will ensure that people who go to workplaces that need transportation are dispersed, “said López.
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