DTI to carry out tight watch on prices

The Department of Trade and Industry (DTI) is strictly monitoring the retail market, especially in the following weeks in order to forestall any unjustified increase in prices of basic commodities, particularly canned products.

This, as the Tin Can Makers Association of the Philippines, Inc. announced that 202 by 306-milimeter tin cans used for canned sardines and corned beef has gone up by P0.35-P0.40 per piece to a range of P3.35 to P3.40 this month.

Trade and Industry Secretary Peter B. Favila stated, “We assure the public that the Price Act will be strictly enforced during the course of our monitoring activities.  We want to prevent unscrupulous retailers from raising their prices out of mere speculation so that the consumers do not have to pay more than what is due them.”