The Department of Trade and Industry (DTI) in Western Visayas enforced a price freeze on essential commodities across 44 local government units in Iloilo province, including Iloilo City, Passi City, and other municipalities.
This in response to the declaration of a state of calamity. The price freeze aims to prevent undue price increases and ensure that essential goods remain affordable for the affected communities.
The policy has been in effect in Iloilo City since August 28 to October 19, and in Passi City and the other municipalities from August 20 to October 19, 2024.
“The DTI conducts daily monitoring of retailers to ensure that prices of basic necessities adhere to the price freeze,” said Consumer Protection division chief Grace Benedicto.
Based on Republic Act No. 7581, or the Price Act, the prices of basic commodities automatically freeze at their prevailing prices for 60 days following a state of calamity declaration.
The price freeze covers a range of essential goods including canned fish, processed milk, coffee, detergent, laundry soap, bread, instant noodles, salt, bottled water, and candles.
Businesses found violating the price freeze may face penalties under the Price Act, including imprisonment or fines.
