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The Department of Trade and Industry has issued Show Cause Order to 51 retailers for selling basic necessities and prime commodities at 10 percent higher than the preceding month’s prices while six others were issued Letter of Inquiry for selling items above the suggested retail price .
The DTI noted that out of the 76 inspected retail firms, 70 were compliant with the SRP bulletin released last 12 August 2022. This translates to over 92 percent SRP compliance rate in the NCR. “The launch of the ‘Sweeptember’ initiative is a step ahead of the price movement that the rainy season might cause to ensure that only quality and reasonably-priced products will be available for our consumers,” said Porciuncula.
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