ABS-CBN News by: Jacque Manabat, Posted at 02/03/2015 5:00 PM
MANILA, Philippines – Many manufacturers and retailers have heeded the Department of Trade and Industry’s call to lower the prices of basic goods, amid the continued drop in oil prices.
The DTI said the price of some basic goods, such as milk, pandesal, as well as some construction materials, have gone down by an average of 2 to 4 percent.
The DTI maintained that the prices of basic and prime commodities should reflect the declining cost of petroleum products.
Last week, manufacturers of milk and community-baked breads have agreed to lower the suggested retail prices, except for evaporated milk.
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