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Economy

Trade dep’t upgrades e-Presyo online price monitoring system 

THE Department of Trade and Industry (DTI) said it introduced an improved version of its e-Presyo online price monitoring system.

Trade Secretary Ramon M. Lopez said during the virtual launch of the system on Thursday that e-Presyo 2.0 will provide real-time information on prices and inventory levels of basic necessities and prime commodities.

“This version of our online price monitoring system is a much better, upgraded version… This version is more efficient when it comes to data gathering and data management and in generating real-time and accurate reports,” Mr. Lopez said.

Mr. Lopez said the system was put together in collaboration with the United States Agency for International Development and University of the Philippines Public Administration Research and Extension Services Foundation, Inc.

According to the DTI, the system features a Price Monitor mobile application, which allows DTI personnel to look up suggested retail prices via mobile. The application also allows personnel to view their assigned stores for monitoring and report their data via the app.

The DTI said the system also allows participating stores to upload their products, prices, and inventory for sharing with consumers. This pricing information is accessible to consumers via the e-Presyo Consumer mobile app.

The Consumer app allows permits searches for the cheapest products or nearest stores. The app also lets consumers report overpricing by a store and to provide proof of the mispricing and location information.

Separately, Mr. Lopez said the supply of flour is adequate amid recent announcements by various restaurants that they are experiencing shortages.

“The flour itself is stocked with distributors and dealers. The supply is still there. The price will not immediately go up. It usually has a 30- to 60-day lag time before the price goes up, depending on the wheat that they use in producing the flour. The Philippines typically sources wheat from the US, Canada, Australia, and Argentina,” Mr. Lopez said. — Revin Mikhael D. Ochave

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