Following the onset of Typhoon Kristine, the Department of Trade and Industry (DTI) has issued a price freeze on basic necessities in areas under a state of calamity.
As of October 22, 2024, Albay province and Magpet Town in Cotabato are currently under this declaration due to widespread floods and landslides.
“Our on-the-ground regional and provincial offices actively monitor prices and supply levels of products within our jurisdiction in all affected areas.”
“The DTI under the Marcos Jr. administration is committed to protecting consumers during this challenging time. Our on-the-ground regional and provincial offices actively monitor prices and supply levels of products within our jurisdiction in all affected areas,” DTI Secretary Cristina Roque said.
“The DTI will take strong action against any violations, which may include administrative cases and fines.”
“In close coordination with the Office of the Civil Defense, we are prepared to enforce the automatic price freeze that accompanies any state of calamity declaration. The DTI will take strong action against any violations, which may include administrative cases and fines,” Roque added.
When a state of calamity is declared, Republic Act No. 7581, or the Price Act, as amended, mandates a 60-day automatic price freeze on products under its purview such as canned fish, locally manufactured instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent, and salt. This means these basic necessities are frozen at their prevailing prices.
In addition to the DTI, other implementing agencies of the Price Act are responsible for ensuring price stability and sufficient supply within their respective jurisdiction. For instance, the Department of Agriculture oversees the prices and supply of rice, corn, cooking oil, fresh, dried and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, and fresh fruits.
Meanwhile, the Department of Health is responsible for monitoring the prices of essential drugs.
Business establishments found to have violated the price freeze will face a penalty of imprisonment for a period of one year to ten years, or a fine ranging from P5,000 to P1,000,000, or both, at the discretion of the court.
The price freeze will remain in effect until its designated end date unless lifted sooner by the President.
Consumers are urged to follow DTI’s Consumer Care official social media accounts for more information.
To report retailers, distributors, and manufacturers that sell basic necessities above their prevailing prices, call One-DTI (1-384) Hotline or send an email to ConsumerCare@dti.gov.ph.
For other consumer-related concerns, send an email to ReportToSec@dti.gov.
