MANILA, Philippines — The Department of Trade and Industry (DTI) has issued a stern warning to unscrupulous traders and retailers against illegal price manipulation and the hoarding of basic necessities. As global economic pressures continue to affect local supply chains, the agency emphasized that individuals caught engaging in profiteering or restricting the flow of essential goods face severe legal consequences, including lengthy imprisonment and multimillion-peso penalties.
Under the Price Act, the DTI is empowered to prosecute those who take advantage of market volatility to artificially inflate prices. Violators can face administrative fines of up to ₱2 million, while criminal charges could lead to jail terms ranging from five to fifteen years. The warning comes as the government intensifies its monitoring of retail prices for commodities such as rice, sugar, canned goods, and hygiene products.
“We will not hesitate to go after those who exploit the Filipino consumer during these challenging times,” a DTI official stated. “Our price monitoring teams are deployed across the country to ensure that the Suggested Retail Price (SRP) is strictly followed and that the supply of basic goods remains accessible to all.”
The agency is also collaborating with local government units (LGUs) and the Philippine National Police (PNP) to conduct surprise inspections of warehouses and retail hubs. This inter-agency effort aims to identify “artificial shortages” created by hoarders looking to sell goods at a higher premium once market supplies dwindle.
Consumers are encouraged to be vigilant and report any suspicious price hikes or “out-of-stock” claims for basic goods to the DTI’s dedicated hotlines. The department reiterated that price freezes are automatically in effect in areas placed under a state of calamity, and any deviation from these established rates will be met with immediate legal action.
