Resolution passed seeking data on price monitoring
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./