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DTI-10 closely monitors prices, supply of goods

CAGAYAN DE ORO CITY (PIA)–The Department of Trade and Industry (DTI)-10 assured the public that it is keeping a close watch over the prices and supply of basic goods.

This was disclosed by Julie Nieva, DTI-10 information officer, during the press conference on the Northern Mindanao January 2023 Inflation Report spearheaded by the Philippine Statistics Authority (PSA)-10, February 17.

She said that each town and city in the area has its own local price coordinating council (LPCC) whose job is to keep an eye on the prices of goods in major stores and make sure they match the suggested retail prices (SRPs).

Nieva said the LPCC is headed by the local chief executives with members from national government agencies like DTI, the Department of Agriculture, and the Department of Energy, among others.

She also said that, in addition to the LPCC, the DTI has its own price and supply monitoring team. This team checks on major businesses every day to make sure they are following the suggested prices and stock levels.

The report of the price and supply monitoring team, she said, is submitted weekly to the DTI central office.

Following the PSA report that the inflation rate in northern Mindanao hit 8.4 percent in January this year, Nieva reminded the public to be wise consumers by budgeting their money and prioritizing their basic needs.

She also suggested that before going to supermarkets or grocery stores, check the suggested retail price (SRP) of the goods, which is available online. (APB/PIA-10)

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