It is the policy of the State, through the Republic Act No. 7581, otherwise known as Price Act as amended by R.A. 10623, to ensure the availability of BNPCs at reasonable prices at all times without denying legitimate business a fair return on investment; and to also provide effective and efficient protection to consumers against hoarding, profiteering, and cartels with respect to the supply, distribution, marketing and pricing of said goods, especially during periods of calamity, emergency, widespread illegal price manipulation and other similar situations.
DTI constitutes its own monitoring task force nationwide that includes the DTI-Fair Trade Enforcement Bureau to conduct weekly Price and Supply Monitoring of BNPCs in groceries, supermarkets, flour retailers and hardware stores.
The DTI-FTEB conducts weekly monitoring to check the price and supply of basic necessities such as, but not limited to, canned sardines, processed milk, powdered milk, coffee, bread, instant noodles, salt, detergent soap, bottled water, and candles; and prime commodities such as, but not limited to, canned meat, vinegar, patis, soy sauce, toilet soap, batteries, flour, cement, hollow blocks, construction nails, light bulbs, electrical supplies and steel wires. For the complete list of BNPC, please click the link: https://www.dti.gov.ph/konsyumer/e-presyo/
To ensure the reasonableness of prices of BNPCs, the DTI may, whenever necessary, issue Suggested Retail Price (SRP) for certain BNPCs for the information and guidance of concerned sectors including consumers.
In 2015, the DTI launched e-Presyo, an Online Price Monitoring System (OPMS) that serves as a repository of all prevailing prices of BNPCs that are being monitored by the DTI nationwide. It allows the consumers to check the prices and/or price freeze of BNPCs and it serves as a buying guide for the consumers.