DTI intensifies price monitoring

The Department of Trade and Industry (DTI) has intensified its price monitoring campaign to protect consumers.

“The DTI is increasing its market visibility nationwide not only to survey prices but also to thwart unscrupulous businessmen who may want to cheat consumers with their hard-earned money,” Trade secretary Peter B. Favila said.

According to Favila, he has increased the number of monitoring teams. “We will penalize dishonest retailers who are taking advantage of the current situation.”

Favila said some businessmen may take advantage of the increase in the prices of petroleum products.

He said some unscrupulous shop owners may hike the prices of goods and use the high crude prices as an excuse.

Favila said the increase in the price of petroleum products has minimal effect on the cost of consumer goods, and that there are other factors that should be considered such as seasonality, increasing cost of raw materials/major components, supply, demand and the weather condition.

“We will summon violators to explain their reason for selling goods at a price higher than what is prevailing in the area. The government will not hesitate to implement the law to protect the welfare of the consuming public,” he warned.

For her part, Undersecretary for Consumer Welfare Zenaida C. Maglaya said they will be partnering with the local government in order to protect consumers better.

“Together, we will look out for vendors who do not place price tags, sell substandard goods to the public and those who use inaccurate weighing scales,” she noted.

At the same time, Maglaya urged the public to protect itself by using the Timbangan ng Bayan to ensure that weighing scales in the market are properly calibrated.

Likewise, she reminded market masters to update the DTI Price Board daily to make sure that they register the correct prevailing prices.

This is in addition to the published price guide that states where prices of basic goods and prime commodities are low so that consumers can exercise their right to choose and buy products that suit their budget the best.

The DTI Price Monitoring and Enforcement Teams conducts a year-round watch of wet markets to ensure that all vendors and businesses comply with provisions of the Consumer Act, the Price Act, among other fair trade laws.