Retailers reminded to observe SRPs during typhoons, calamities


(Source: | July 9, 2015)

The Department of Trade and Industry (DTI) reminded retailers to observe and still implement suggested retail prices (SRPs) particularly on basic goods during typhoons and calamities. DTI Consumer Protection Group Undersecretary Victorio Mario A. Dimagiba said in a text message that the department continues its market monitoring despite the inclement weather brought by typhoon “Falcon” to ensure that there are no unreasonable price increase of commodities in the market.

Dimagiba also reminded retailers to immediately implement price freeze in areas that will be declared under state of calamity.

“Please observe the price freeze published by the local DTI office in areas declared under state of calamity,” he added.

Under Republic Act No. 7581 or the Price Act, prevailing prices of basic goods in areas under state of calamity shall be maintained for 60 days.

The Price Act was amended in 2013 which now include manufactured instant noodles, household liquefied petroleum gas (LPG), and kerosene as basic commodities.

Other basic goods include bread, canned fish and other marine products, processed milk, coffee, salt, laundry soap, detergent, candles, rice, corn, root crops, fresh and dried fish and other marine products, fresh pork, beef and poultry meat, fresh eggs, fresh milk, fresh vegetables, sugar, cooking oil, firewood, charcoal, and drugs and medicine that are included in the current edition of the Philippine National Drug Formulary (PNDF) Essential Drugs List (EDL).