By Tara Yap
Iloilo City — The Department of Trade and Industry (DTI) reiterated that the price increase of basic commodities in Iloilo is very minimal.
DTI-Iloilo provincial director Diosdado Cadena Jr. said the average price increase for canned goods is only eight percent while prime commodities such as soaps only had an increase of .45 percent.
Cadena reiterated that the Tax Reform for Acceleration and Inclusion (TRAIN) Law is not the direct cause for the price hike.
“The price adjustments depend on the manufacturer as well as the law of supply and demand,” Cadena explained.
DTI-Iloilo’s Maria Dorita Chavez also noted that several manufacturers of canned goods decided to implement price increase because ingredients and even tin cans are imported.
On the other hand, Cadena pointed out that many sellers in rural areas are the ones who are wrongly using the TRAIN Law as an excuse to jack up prices.
While certain basic commodities increased in prices, DTI found that several manufacturers also decreased prices.
Since the first week of July, DTI-Iloilo inspectors have randomly checked prices of commodities to make sure it’within standards. It specifically monitors the prices of different canned goods such as sardines and evaporated milk as well as coffee.