Department of Trade and Industry (DTI) Misamis Oriental has released its price freeze list of basic necessities for Cagayan de Oro City.
The price freeze on basic goods was implemented following an executive order released on May 1, 2024 declaring Cagayan de Oro City under state of emergency due to the concerns relating to the conditions of the water supply and distribution of the city.
Under Republic Act No. 7581 or the Price Act, prices of basic necessities shall automatically be frozen at their prevailing prices for sixty (60) days if an area is in an emergency situation such as being placed under a state of emergency. This is to protect consumers from undue price increases.
The automatic price freeze in Cagayan de Oro took effect on May 1 and will end on June 29, 2024, unless sooner lifted by the city mayor.
DTI Misamis Oriental will continue its regular monitoring in supermarkets and grocery establishments on the price and supply of basic necessities under its jurisdiction such as canned fish, processed milk, coffee, detergent, laundry soap, bread, locally manufactured instant noodles, salt, bottled water, and candles.
The DTI Misamis Oriental price freeze list of basic necessities for Cagayan de Oro City can also be accessed here: https://tinyurl.com/3s7pu8d5♦
Date of Release: 06 May 2024
