Consumers can expect steady prices for basic commodities like canned sardines and instant noodles for another three weeks. Following consultations with manufacturers and retailers, the government has pushed the price freeze deadline to May 10, citing recent significant rollbacks in fuel prices. (Photo by Mark Balmores | MB file)
The government has reached a fresh agreement with manufacturers and retailers to extend the nationwide price freeze on essential goods until May 10, providing a temporary shield for consumers against rising living costs.
On Friday, April 17, Trade Secretary Cristina Aldeguer-Roque announced the extension following a series of consultations with industry stakeholders, confirming that prices for basic necessities and prime commodities (BNPCs) will remain unchanged in major supermarkets and groceries.
The freeze was originally set to expire on April 16, before being moved to April 30, and now into the second week of May.
“Our current discussion is focused on having no price increases for basic necessities and prime commodities,” Roque told reporters during a market monitoring sortie. “Based on our latest meetings with them, they have extended the price freeze for these goods until May 10.”
The trade chief noted that the stability of food prices is a priority for the Marcos administration, noting that recent downward trends in fuel costs have played a critical role in negotiations.
Earlier this week, the government implemented a significant rollback in fuel prices, with diesel dropping by more than ₱20 per liter and gasoline by over ₱4 per liter.
“Of course, everything helps. Any decrease in costs is always beneficial,” Roque said when asked if the fuel price drop facilitated the extension.
She added that the Department of Trade and Industry (DTI) will continue to assess the situation weekly, with another meeting scheduled for next week to determine the path forward beyond the May 10 deadline.
While some manufacturers have continued to lobby for adjustments amid long-term inflationary pressures, Roque noted a shared understanding of the current economic climate.
“There are always requests, right? But the manufacturers also understand the needs of the consumers,” she said.
The DTI currently monitors 726 variants of essential goods, including canned sardines, instant noodles, bottled water, and bread.
Roque urged the public to remain vigilant and refer to the official DTI list of monitored products to ensure they are not being overcharged.
“The important thing is that there are no price hikes… meaning food prices remain stable,” Roque said. “We will continue to keep the public informed.” (Dexter Barro II)
