'No price increase in basic goods'

TACLOBAN CITY - Manufacturers, grocery store owners and retailers in the country have assured the government that they will not jack-up their prices of basic commodities despite the latest round of oil price increases.

Trade and Industry Secretary Mar Roxas said this yesterday as he revealed that various trade groups have vowed not to raise prices in the coming weeks.

Roxas, however, said that the nation's association of retailers has said that it will only make "some adjustments" in the prices of luxury or non-essential items.

"Their concensus was that the 50- to 80-centavo increase in fuel prices has an effect in the cost of production, but they have decided against increasing the price of basic goods," he said.

Roxas noted that manufacturers of processed foods and milk products have committed last week that an increase in the prices of their goods would depend on the cost of their production.

And he explained that for manufacturers, an increase in fuel prices do not have much bearing as compared to an increase in power rates.

Roxas also said that the country's association of supermarket owners has vowed too not to increase their prices if only the manufacturers would maintain their rates.

In a meeting with Roxas, retailers assured that only luxury and non-essential products will have price adjustments so as to protect the interest of majority of Filipinos who are poor.

And Roxas pointed out that his department remains "in control" of the situation, and that Filipinos should never be alarmed.

"Based on our monitoring of various markets in Metro Manila and the provinces, stable and stabilized prices of goods have remained," he said. "And we expect the same prices to remain in the weeks to come.