The Department of Trade and Industry (DTI) is tightly monitoring prices of manufactured basic necessities and prime commodities after the depreciation of the peso against the US Dollar.
Concerns were raised after the peso briefly breached the 50 to $1 level last week fueling speculations from businessmen and consumers that prices of commodities would rise, particularly of those made from imported raw materials.
However, Joe Hibaya, DTI-Bohol chief of Consumer Welfare and Business Regulations Division, said that prices of basic necessities remain normal in the province.
He noted that even if the depreciation of the peso would cause the increase in prices of goods, this will not take effect immediately.
Hibaya assured the public that there will be no sudden spike in prices of basic necessities during the Christmas season or until the year ends.
DTI personnel have been deployed to monitor big stores in Tagbilaran City and various towns to ensure that businessmen have not implemented price hikes, he said.
Meanwhile, prices of petroleum products have been increasing as the peso depreciates. (Allen Doydora)