LAOAG CITY, Ilocos Norte (PIA) — With the holiday season fast approaching, the Department of Trade and Industry (DTI) Ilocos Norte is reminding consumers and retailers to adhere to the Suggested Retail Price (SRP) guidelines for holiday goods, emphasizing the importance of fair pricing and consumer protection amid increased demand.
According to Amelia Galvez, OIC Provincial Director of DTI Ilocos Norte, the agency has been conducting weekly price monitoring across the province since September, with efforts intensifying as Christmas and New Year celebrations draw near.
“Fortunately, we can report that in our monitoring, we have not recorded any violation on the price guide in the province so far. We initially started our monitoring last September, but we are strengthening it as the holidays move closer and closer,” Galvez said.
The Noche Buena price guide released by the DTI for 2024 included prices for 236 Stock Keeping Units (SKUs) from 22 manufacturers across 12 categories of products.
Why price monitoring is crucial
Under the Consumer Act of the Philippines (Republic Act No. 7394) and the Price Act (Republic Act No. 7581), overpricing is considered an unfair and unconscionable sales act and profiteering, as it exploits consumers during periods of heightened demand and need.
Violators face severe penalties:
- Consumer Act (RA 7394): Administrative fines of up to ₱300,000 and/or imprisonment of up to one (1) year.
- Price Act (RA 7581): Fines of up to ₱2,000,000 and/or imprisonment of up to 15 years.
These laws serve as vital safeguards against exploitation and ensure fair market practices, particularly during critical seasons like the holidays.
2024 Noche Buena price guide
The Noche Buena price guide for 2024 includes prices for 236 Stock Keeping Units (SKUs) from 22 manufacturers across 12 product categories, including ham, queso de bola, fruit cocktail, cheese, mayonnaise, pasta, and sauces.
- Ham: ₱170 – ₱928.50
- Queso de Bola: ₱210 – ₱445
- Fruit Cocktail: ₱61.76 – ₱302.50
- Cheese: ₱56.50 – ₱310
- Mayonnaise: ₱20.40 – ₱245.85
- All-purpose Cream: ₱36.50 – ₱72
- Sandwich Spread: ₱27 – ₱263.60
- Tomato Sauce: ₱16.50 – ₱92.85
- Spaghetti Sauce: ₱28.50 – ₱103
- Spaghetti: ₱32 – ₱114
- Elbow Macaroni: ₱30.50 – ₱126.25
- Salad Macaroni: ₱36.50 – ₱126.25
These prices remain effective until December 31, 2024.
For public awareness, Galvez also encouraged the public to report stores that are overpricing on their holiday goods and other commodities through the DTI Consumer Care Hotline at 1-384 or email [email protected].
Consumers can also report personally at the DTI Ilocos Norte provincial office at the second floor of the Jommel III Building, P. Acosta corner D. Samonte St., Brgy. 14 Santo Tomas, Laoag City, Ilocos Norte.
By adhering to the SRP guidelines and remaining vigilant, both retailers and consumers can help ensure fair pricing practices and a stress-free holiday shopping experience. (CCMT/EJFG, PIA Ilocos Norte)
