By John Noel E. Herrera
The Department of Trade and Industry in Iloilo reminded everyone to be cautious of overpriced products in the market and report those products or sellers who are selling overpriced items.
DTI Iloilo said that it will take proper actions against those who will violate suggested retail prices (SRP).
The agency also released the SRP table for school supplies in preparation for the start of the classes.
The SRP table serves as a guide for consumers in comparing prices when purchasing school supplies in the market.
DTI Iloilo noted a three to six percent jump in SRPs of basic commodities due to inflation and an increase of prices in the global market and raw materials and packaging used for the products.
According to DTI Iloilo Provincial Director Judith Degala, the agency monitors 218 Stock Keeping Units (SKU) wherein 151 retained their prices while the remaining 56 implemented price adjustments.
Degala also said that there will be weekly monitoring of prices to ensure that the retailers will comply with the SRPs.
Those who will not comply as they go beyond the SRP will get a letter of inquiry from DTI and will be asked for a justification of their prices. Manufacturers may also be questioned.
DTI added that businesses that sell products with prices higher than the SRP could be charged with profiteering or illegal price manipulation.
The Price Act Law or Republic Act No. 7581 provides protection to consumers by stabilizing prices and providing measures against undue price increases during emergency situations such as the current coronavirus disease pandemic and the dengue outbreak.
Another law also that protects the consumers is Republic Act No. 11469 or the Bayanihan to Heal as One Act which enumerates the punishable offenses during the COVID-19 national emergency.
Among the offenses punishable under RA 11469 are hoarding, profiteering, cartel, and price manipulations.
Meanwhile, Degala also said that consumers should be particular with the prices and check the quality and quantity of the items.
Degala added that it is important as well to check the labels as “they contain information useful to consumers as you can only make a wise choice if you have complete information about the product.”
Here are the latest SRP for school products:
Notebooks – P17.50 to P164.75
a. Writing, 80 leaves – P17.50 to P34.75
b. Composition, 80 leaves – P17.50 to P34.75
c. Spiral, 80 leaves – P17.50 to P37.50
d. Yarn, 80 leaves – P19.80 to P27.50
e. Promo Pack (Packs of six notebooks with freebie) – P129.75 to P164.75
Pad Papers – P14 to P50
a. Writing Pad Papers, 80 leaves – P14 to P50
b. Intermediate, 80 leaves – P22.50 to P30
Pencils – P8.25 to P27
Ballpens – P7.25 to P32
Crayons – P18 to P69
a. Eight-piece crayon box – P18 to P27
b. 12-piece crayon box – P32
c. 16-piece crayon box – P33.75 to P49
d. 24-piece crayon box – P45.75 to P69
Sharpeners – P14 to P54
Ruler – P13 to P39