Price monitoring will continue – Goking
COUNCILOR George S. Goking, chair of the City Council committee on trade and commerce, together with the CDO City Price Coordinating Council and the Department of Trade and Industry-Misamis Oriental conducted price monitoring and price inspection in several establishments, groceries stores, and educational supplies in the city.
It was learned that the suggested retail price or SRP comes from the DTI central office.
The DTI noted an increase of about P3.29 to P10 to the new SRP compared to the previously issued SRP for some commodities like cancer beans, processed milk, coffee refill and noodles, laundry soap, bottled water, candles, and many others. This is reportedly due to the rising cost of raw materials, packaging, freight, and distribution cost.
Councilor Goking said it is necessary to closely monitor the prices, especially of basic commodities needed by the people.
The increase in the price of petroleum products and the high rate of energy will also cause the high prices of goods, he explained.
It is also advisable to review some rules and guidelines in the implementation of the SRP. The City Price Coordinating Council will continue to inspect groceries, and public markets to ensure the best interest of city residents, Goking assured.