Manufacturers of basic commodities and prime commodities agreed to hold off any price increase until December this year to partly relieve consumers from the high prices of goods and services.
“We requested manufacturers of basic necessities and prime commodities to hold off any price increase at least for the next three months. Response in principle is very positive, although we hope to get their commitment in writing,” Trade Undersecretary for consumer protection group Ruth Castelo said Tuesday.
She said while the government could not impose a moratorium on price adjustment as it does not have the authority under the Price Act, the manufacturers agreed to postpone the price hike on the basis of their social contribution and responsibility.
Castelo said the Trade Department also appealed on manufacturers to defer any price adjustment next year, and it received positive feedback from many firms.
She said the companies gave their word not to add to the burden of consumers during the holidays.
“For [manufacturers of] coffee, noodles, laundry and bath soap, soy sauce, fish sauce, vinegar, bread and candles, [they] agreed in principle to ‘no movement’ soon so we hope this will be till next year, if they can stretch it till February or March,” she said.
Manufacturers of canned sardines and canned meat products have yet to make their own commitment, she said.
Laban Konsyumer Inc., a consumer group, earlier pushed for a moratorium on price increase, as some products increased their prices by as much as 70 percent to 133 percent.
These include canned sardines, processed milk, coffee refill, bread, instant noodles, iodized salt, detergent and laundry soap, bottled water, candles, canned meat, condiments, toilet soap and batteries.
Laban Konsyumer president Victorio Dimagiba said this was bad news for the consumers, “because in the old SRP list of 132 items, 93 items had increased prices since January to date, meaning 70 percent of the goods increased prices.”
“If we use the new denominator in 211 items in the expanded SRP, that’s 44 percent increase, which is still bad news for consumers and the poor are greatly affected here.When we excluded the 17 items of bottled water and 28 items of candles, that’s an unconscionable 113 percent price increase in the listed items,” he said.