DTI confirms 'shrinkflation' creep in prime commodities | ABS-CBN

Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
DTI confirms 'shrinkflation' creep in prime commodities
DTI confirms 'shrinkflation' creep in prime commodities
ABS-CBN News
Published Jan 05, 2024 08:45 AM PHT
|
Updated Jan 05, 2024 09:41 AM PHT

Watch more on iWantTFC.com. Watch hundreds of Pinoy shows, movies, live sports and news.
Watch more on iWantTFC.com. Watch hundreds of Pinoy shows, movies, live sports and news.
The Department of Trade and Industry condemned Friday the practice of "shrinkflation" wherein the size or quantity of a product becomes smaller while the price remains the same.
The Department of Trade and Industry condemned Friday the practice of "shrinkflation" wherein the size or quantity of a product becomes smaller while the price remains the same.
DTI Assistant Secretary Amanda Nograles said the practice of shrinkflation is a form of price increase especially if a customer unknowingly buys a product of reduced size but with the same price.
DTI Assistant Secretary Amanda Nograles said the practice of shrinkflation is a form of price increase especially if a customer unknowingly buys a product of reduced size but with the same price.
"Binabantayan ng DTI 'yung sinasabing shrinkflation. Dapat alam ng consumer na hindi nga gumalaw 'yung presyo, nagbawas ka naman ng timbang or nagbawas ka ng laman or nag-iba ka ng formula. Dapat nakalagay siya sa pakete so informed yung consumer," she said in a TeleRadyo Serbisyo interview.
"Binabantayan ng DTI 'yung sinasabing shrinkflation. Dapat alam ng consumer na hindi nga gumalaw 'yung presyo, nagbawas ka naman ng timbang or nagbawas ka ng laman or nag-iba ka ng formula. Dapat nakalagay siya sa pakete so informed yung consumer," she said in a TeleRadyo Serbisyo interview.
Consumers must send complaints if manufacturers change the weight of products without indicating the change in the packaging, she said.
Consumers must send complaints if manufacturers change the weight of products without indicating the change in the packaging, she said.
ADVERTISEMENT
Nograles said 63 out of 217 items have submitted requests for price adjustment, ranging from 25 to 50 centavos, to the DTI.
Nograles said 63 out of 217 items have submitted requests for price adjustment, ranging from 25 to 50 centavos, to the DTI.
"Itong 63 items specific na brands… para sa consumer, pwede siyang mamili ng ibang klase, ibang brand, ibang variant," she said.
"Itong 63 items specific na brands… para sa consumer, pwede siyang mamili ng ibang klase, ibang brand, ibang variant," she said.
From January to November, inflation in the Philippines averaged 6.2 percent, which was above the government target of 2 to 4 percent.
From January to November, inflation in the Philippines averaged 6.2 percent, which was above the government target of 2 to 4 percent.
Government economic managers said inflation is expected to further slow to within the target range next year, but economists have also warned that geopolitical uncertainties may still quicken inflation.
Government economic managers said inflation is expected to further slow to within the target range next year, but economists have also warned that geopolitical uncertainties may still quicken inflation.
Inflation hit a 14-year peak of 8.7 percent in January as food and fuel prices surged.
Inflation hit a 14-year peak of 8.7 percent in January as food and fuel prices surged.
ADVERTISEMENT
ADVERTISEMENT