Prices of basic goods stable despite RVAT

The Department of Trade and Industry reported that despite full implementation of the Reformed Value Added Tax, prices of basic commodities in Cebu have remained stable.

Except for processed milk and coffee that increased by about 15 to 70 centavos, prices of other products remained the same.

DTI Cebu regulatory division chief Zaide Bation said their recent price and supply monitoring report shows no significant change in the price of commodities based on their monitoring report done a week ago.

In its report, DTI said that the prevailing price of commodities for supermarkets and groceries shows only a slight increase, ranging from 15 to 70 centavos for processed milk and coffee. Prices of sardines, canned meat, instant noodles and flour remained the same.

Meanwhile, NFA rice stays affordable for the public at P18 per kilo.

NFA Cebu assistant manager Cyrene Stella also assured the availability of Vietnam rice in all "Tindahan ni Gloria" throughout Cebu province. There are 1,069 Tindahan ni Gloria stores in Cebu including 58 Bigasan ni Gloria stores in public markets and in some barangays that solely sells NFA rice.

With the help of the Grains Retailers Confederation, she added that NFA keeps an inventory and continues to monitor the prices of their rice in all NFA-accredited retailers on a daily basis to ensure the public of stock and prices of this commodity's availability and affordability. - Wenna A. Berondo