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Wednesday, February 4, 2015

Consumers to expect lower prices of goods by March

By Franklin P. Gumapon

PAGADIAN CITY – Certain manufacturers have vowed to either decrease the prices or increase the weight of their goods following the decrease in prices of petroleum products.

In a press conference held at the provincial office of the Department of Trade and Industry (DTI) here this morning, Provincial Director Maria Socorro Malate-Atay disclosed that some companies and manufacturers are likely to decrease the suggested retail prices (SRPs) of their products effective March 1.

Director Atay, however, clarified that the reduction of prices applies mainly to products classified as basic and prime commodities. She cited as example that not all milk products are under the basic need category.

Nestle Philippines Senior Vice President Edith de Leon has informed the National Price Coordinating Council (NPCC) that the company is going to decrease the SRP of its most saleable milk product, Bear Brand powdered milk in 150 grams, from P51 to P50 starting March 1.

Moreover, based on the monthly price monitoring report released by DTI-Zamboanga del Sur, it showed that most retailers in Pagadian City followed the SRP set by the manufacturers/companies.

Atay also planned to send for bakery owners in the city to discuss the possible lowering of prices of bread products.

As regards the prices of petroleum products, Atay told the press that the agency tasked with monitoring/regulating them is the Department of Energy (DOE). Unfortunately, the DOE has no personnel based in each province. But, she said, her office is monitoring the prices of petroleum products to keep track of the price levels and supply.