Prime commodity prices remain stable, affordable - DTI

2005/04/08

Prime commodity prices remain stable, affordable - DTI

by T. Villavert

Iloilo City (PIA) (8 April) -- Despite several rounds of price increases in oil products, the prices of basic commodities here has remained stable and affordable, provincial director Diosdado Cadena of the Department of Trade and Industry Iloilo Office said.

Cadena noted that any hike in oil prices would create a ripple effect that would force living costs to go up beyond the reach of the minimum wage earners, "but our monitoring report showed that the prices of basic commodities under the jurisdiction of DTI has remained the same when compared to last week's price level."

In the DTI's price watch, Cadena mentioned a slight price increase when compared this week's prices to last three-month's price level.

Citing the canned fish as example, Cadena said that in the five most common brands sold in the market, it was observed that the increase ranged from .56% to one percent; 4% in another brand while no price increase in one brand.

"So a consumer can get their money's worth from the many brands to choose from", Cadena said.

On price monitoring, Cadena explained that the data gathered are basis to the kind of intervention that the government will implement to address the problem should it reach to its worst level.

Also, it will be a basis for DTI and other concerned government agencies to file necessary charges or administrative sanctions to unscrupulous traders/businessmen found to be taking advantage of the situation, Cadena said.

Meanwhile, President Gloria Macapagal-Arroyo has ordered the National Food Authority to ensure that rice sold by the NFA remains affordable and accessible to the poor.

In a related development, Secretary Ignacio Bunye in echoing the voice of the government, has called on all concerned sectors to team up with our government in bracing for the adverse effects of high oil prices.

"Economic pressures must be met with unity and solidarity as the nation grapples with the challenge of putting our fiscal house in order while keeping inflation down", Bunye said.

Bunye urged everyone to help in price monitoring, and enforcement in the exposure of unscrupulous business practices, fighting corruption and tax evasion. He likewise encouraged the public to practice energy conservation as a way of life. (PIA)


Diosdado Cadena Jr.