Res­o­lu­tion passed seek­ing data on price mon­i­tor­ing

Watchmen Daily Journal - - Front Page -

The Ba­colod City Sang­gu­ni­ang Pan­lung­sod (SP) re­cently passed an or­di­nance re­quest­ing the Lo­cal Price Co­or­di­nat­ing Coun­cil to pro­vide the leg­isla­tive body with their data on the mon­i­tor­ing of prices on ba­sic and prime goods gath­ered be­tween Jan­uary and Septem­ber.

The res­o­lu­tion, au­thored by City Coun­cilor Wil­son Gam­boa, Jr., calls to at­ten­tion re­cent news re­gard­ing ris­ing in­fla­tion in the coun­try, wherein prices on ba­sic com­modi­ties are ex­pected to rise, which could lead to busi­ness peo­ple tak­ing ad­van­tage of the sit­u­a­tion and en­gag­ing in prof­i­teer­ing, or over­pric­ing.

Once pro­vided with the

data, the SP will “as­sess what needs to be given at­ten­tion.”

Ear­lier this week, the Capiz De­part­ment of Trade and In­dus­try (DTI) re­cently re­vealed they are cur­rently mon­i­tor­ing the prices of 225 ba­sic and prime com­modi­ties, an in­crease of 69 from their ini­tial 156 items that are mon­i­tored on a monthly ba­sis.

Capiz DTI Di­rec­tor Ken Quee­nie Cuñad ex­plained they want to en­sure con­sumers are not taken ad­van­tage by re­tail­ers that charge above the sug­gested re­tail price, a fig­ure de­ter­mined by the govern­ment agency./

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