ILOILO City – The Department of Trade and Industry (DTI) has launched a multi-agency price monitoring initiative in Western Visayas to prevent profiteering, hoarding, and unjustified price increases of essential goods as global economic pressures and rising fuel costs threaten to push up prices in the region.
The move brings together several government agencies under the framework of the Price Act (Republic Act 7581) to closely monitor the cost of basic commodities and ensure that consumers in Western Visayas are protected from market abuses.
DTI Region 6 said the collaborative effort is aimed at strengthening price surveillance and providing clear channels for consumer complaints as prices continue to fluctuate due to international economic developments.
Under the arrangement, different government agencies are tasked with monitoring specific categories of goods.
The Department of Agriculture (DA) is responsible for monitoring prices of rice, corn, root crops, fresh fish, pork, poultry, dairy products, vegetables, fruits, sugar, and cooking oil.
The Department of Trade and Industry (DTI), meanwhile, oversees the pricing of canned fish, processed milk, coffee, laundry soap, bottled water, candles, and locally manufactured instant noodles.
The Department of Health (DOH) regulates prices of essential medicines included in the Philippine National Drug Formulary.
The Department of Energy (DOE) monitors the prices of household liquefied petroleum gas (LPG) and kerosene, while the Department of Environment and Natural Resources (DENR) supervises price monitoring for firewood and charcoal.
Authorities urged consumers to remain vigilant and report suspicious price increases to the appropriate agencies, emphasizing that public participation is essential in keeping the market fair./PN
