The Department of Trade and Industry (DTI) has announced a 60-day price freeze on basic goods across the Philippines. This decision follows the declaration of a state of national calamity by President Ferdinand Marcos Jr.
The price freeze applies to basic necessities and prime commodities and will remain in effect for 60 days, unless lifted or extended by the President. The DTI has coordinated with the National Price Coordinating Council (NPCC) and other agencies to ensure compliance from manufacturers, distributors, and retailers.
Additionally, the Department of Health (DOH) has confirmed that around 146 medicines, including analgesics, antihistamines, and vitamins, will also fall under price control during the calamity period.
DTI regional and provincial offices have been put on high alert to monitor the situation and ensure that prices remain stable. Retailers are required to comply with the new regulations, and penalties will be imposed for violations such as hoarding or overpricing.
The price freeze is part of the government’s response to the impact of Typhoon Tino, which has affected several regions, and in anticipation of the approaching Typhoon Uwan.
