The Department of Trade and Industry (DTI) aims to extend the ongoing voluntary price freeze on essential goods by at least one or two months, according to Trade Assistant Secretary for Consumer Protection Group Amanda Nograles.
“We are currently working on an extension of the voluntary price freeze. Our current effort is to appeal to manufacturers for an additional period of 30 to 60 days since the existing freeze is set to expire on July 10th,” Nograles said.
The move comes after the initial success of the voluntary price freeze program launched in May 2024. The program is a collaborative effort between the DTI and major manufacturers to address rising prices of goods.
Earlier in May, several companies voluntarily froze prices on select essential goods like canned meat, processed milk, and bottled water.
Following positive initial results, major manufacturers such as Monde Nissin, Alaska Milk Corp., Nestle, NutriAsia, Inc., and San Miguel Foods joined the initiative.
This expansion brought the total number of participating manufacturers to eight, significantly increasing the number of covered essential goods to 31 stock keeping units (SKUs).
Participating SKUs included brands like Lucky Me! Instant Mami, Bear Brand Fortified Powdered Milk Drink, Datu Puti Soy Sauce, San Mig Coffee 3-in-1 Original, and Purefoods Chinese Style Luncheon Meat.
This ensures Filipinos nationwide can continue to purchase these essentials at stable prices, particularly in areas not covered by automatic price freeze measures.
Prior to the voluntary price freeze initiative, automatic price freeze mechanisms were already in place in provinces and municipalities severely impacted by El Niño.
Government-mandated price freeze, established by Republic Act No. 7581 or the Price Act, typically lasts for 60 days in declared calamity areas.
