Legazpi city: Consumers and small business owners in Albay are adopting practical ways to manage expenses as concerns over possible increases in commodity prices persist amid the ongoing crisis in the Middle East.

According to Philippines News Agency, Vilma Perez, a 47-year-old housewife from a minimum-wage-earning household, emphasized the importance of stable prices for consumers, especially families with transportation and school-related expenses. She noted that any increase in goods prices, amid ongoing school days and transportation costs, would pose significant challenges.

Perez revealed that her family has begun conserving electricity and water to manage expenses, such as unplugging appliances when not in use and doing laundry in batches. This is in anticipation of potential price hikes in goods due to rising fuel costs, which could affect businesses' ability to maintain stable prices.

Nardito Aguallo, a 39-year-old small business owner of a sari-sari store in Mabinit, Legazpi City, shared that small retailers like him rely on minimal earnings. Aguallo mentioned that they would not add any markup unless suppliers increase their costs, as their current earnings are already limited.

The Department of Trade and Industry in Bicol (DTI-5) assured the public that the prices and supply of basic goods remain stable despite global challenges. DTI-5 Regional Director Dindo Nabol stated that continuous price and supply monitoring, along with collaboration with retailers and local government units, ensures the availability of basic goods for the public.

Recent monitoring has confirmed that major retailers maintain sufficient inventory and comply with suggested retail prices, ensuring affordability for consumers. Nabol also advised the public to avoid panic buying, as supply chains are fully operational. Regular advisories are issued to guide retailers and consumers, with enforcement teams vigilant against unfair trade practices.