DTI identifies four key areas to curb inflation

The Department of Trade and Industry (DTI) has identified four key areas which policies and programs should be intensified to curb the rising inflation.

In a statement Wednesday, DTI said it will focus on monitoring consumer prices, improving the country’s logistics and supply chain, investment promotion and partnership with other government agencies.

The DTI said amid the faster increase in prices of goods and services, it closely monitors prices of basic necessities and also helps in monitoring prices of agricultural products, which have been volatile in the past months.

It added it is coordinating with manufacturers to ensure stable supply and reasonable prices of basic necessities and prime commodities (BNPCs).

“The DTI continues to capacitate local price coordinating councils to en- force monitoring, compliance and accountability of all stakeholders at various supply chain stages, including market masters, administrators, retailers and wholesalers,” DTI Secretary Alfredo Pascual said.

To manage consumer prices, Pascual said DTI has partnered with the Department of Agriculture (DA), the Department of the Interior and Local Government (DILG) and micro, small and medium enterprises (MSMEs) to roll out Diskwento caravans and Kad- iwa stores to provide Filipinos access to affordable agricultural products and manufactured BNPCs.

He said improving the country’s logistics infrastructure and supply chain is critical to reduce cost of goods.

“For this, we have the Supply Chain and Logistics Management Division under DTI that is working to lower logistics cost and simplify the transport of products from the point of origin to its destination,” he added.