MANILA — Five manufacturers of basic commodities have agreed to a voluntary price freeze for 60 days to help stabilize the prices of some items as the Philippines continues to battle the effects of El Niño, the Department of Trade and Industry (DTI) said on Tuesday.

“Iba-iba po ang date of effectivity nila. Kasama po dito sa voluntary price freeze ang mga processed meat, processed milk items, bottled water, instant noodles,” DTI Assistant Secretary Amanda Nograles said, without naming specific companies.

(They have different dates of effectivity. Among items included in the voluntary price freeze are processed meat, processed milk items, bottled water, instant noodles.)

The DTI will also strengthen its efforts in price “monitoring, hoarding and any acts of illegal price manipulation” to ensure that prices of basic commodities will remain stable despite droughts and dry spells in some parts of the country.

The agency will also release a more detailed suggested retail price list to include the unit cost of goods — a move designed to deter “shrinkflation,” Nograles said.

“Ibig sabihin makikita na natin magkano ang presyuhan ng mga bilihin per gram, per ml, per unit cost nito,” she said.

“Ito yung magiging mark natin para malaman natin yung mga hindi gumagalaw ang presyo pero binabawasan ang timbang o binababaan ang presyo pero napakalaki naman ng pagbawas ng timbang,” she said.

“Pag nakaindicate na yung unit cost, isang tingin lang ng consumers, macocompare na nila yung presyuhan ng mga bilihin,” she added.

(This means that they can see the cost of each item per gram, per milliliter, per unit. This will be our mark in determining items that did not adjust their prices but decreased their volume or items that slashed prices but significantly shrunk the weight of their goods. If the unit cost is indicated, consumers can easily compare prices.)

Meantime, 2 municipalities in Bukidnon have been placed under an automatic price freeze due to El Niño, the DTI official said.