Prices, Supply Of Goods Stable

9 August 2012

Prices of goods have remained generally stable behaving well within their suggested retail price range while supply is adequate amidst the implementation of price control in areas under the state of calamity.

DTI Secretary Gregory Domingo reported this after visiting Mega Q-Mart in Quezon City Thursday morning.

Except for price increase in vegetables and galunggong, which slightly rose from P110 to P120 per kilo due to the bad weather, prices of basic necessities and prime commodities continued to be stable.

Domingo said that there is no panic buying in the supermarkets and the supply shortage of instant noodles and canned sardines in market is due to bulk buying for relief operations.

"Owners of supermarkets, wet markets, and major manufacturers assured us that there is enough supply and there is no panic buying happening." he said.

The DTI, he said, will meet with the manufacturers for the possible establishment of a supply center where goods can be sourced for relief operations instead of supermarkets to avoid supply shortage.

Domingo also said that automatic price freeze will be implemented in the areas declared under state of calamity. During a prize freeze, prices of goods remained at prevailing prices until the state of calamity is lifted.

Areas declared under a state of calamity are the following: NCR (Marikina, Malabon, Navotas, Valenzuela, Muntinlupa, San Juan, Pasig, Pasay, Caloocan and Pateros); Region III (Bataan, Pampanga, Zambales and Bulacan); Region IV-A (Laguna) Region IV-B: (Palawan-Culion, El Nido and Linacapan).

Domingo said they are closely monitoring the prices of canned sardines in the Navotas-Malabon area.

"We are working with the LGUs and in monitoring the prices of goods to ensure that retailers do not violate price control," said Domingo.