AUGUST 28, 2018 - DTI MANUFACTURERS VOW TO KEEP PRICES STABLE
MANUFACTURERS of basic necessities and prime commodities (BNPCs) have vowed to control the prices of their products during the preholiday season to allow consumers to cope, following a consumer group’s report that prices of such items rose by 11 percent over the past seven months. Trade Undersecretary Ruth B. Castelo said BNPC producers gave their word they will stabilize the prices of their goods for the next three months. The guarantee was made in the run-up to the holiday season—usually viewed as a golden opportunity to jack up prices just as demand for commodities is expected to go up. However, she said the government cannot force all manufacturers to contain their prices at the current level in December, just about the time when the demand traditionally surges. Castelo said that some manufacturers committed not to increase until next year but the government apparently can only rein them in up to a point.