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MANILA, Philippines 鈥� Manufacturers are free to change the size and price of their products amid the 鈥渟hrinkflation鈥� phenomenon,听 Department of Trade and Industry (DTI) Assistant Secretary Amanda Nograles said during the Bagong Pilipinas Ngayon public briefing on Wednesday.
According to the Philippine Amalgamated Supermarkets Association, 鈥渟hrinkflation鈥� is when manufacturers alter the size and volume of their products to maintain current prices.听听
鈥淢alaya po kasi ang mga manufacturers na gawin iyan, it is their ultimately business decision po nila iyan na baguhin iyong produkto nila as to the size and as to the quality of the product,鈥� said DTI听
(Manufacturers are free to do that, it is ultimately their business decision to adjust their product as per the size and quality.)听
Nograles explained that the DTI is primarily guarding basic necessities and prime commodities. It could only intervene when it comes to violations to the Price Act.听 听
鈥淢agiging violation iyan kapag nagkakaroon ng price manipulation iyong tinatawag nating profiteering 鈥� ibig sabihin noon, sobra-sobra naman iyong presyo ng item para doon sa true worth, iyong totoong value ng produkto,鈥� she said.听
(It becomes a violation if there is a price manipulation鈥攚hich means that听 the price of the item is too much for its worth, the product鈥檚 real value.)听
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