Manila, March 29 -- Prices of basic necessities and prime commodities (BNPCs) will increase only starting April 17, following a meeting among officials of the Department of Trade and Industry (DTI), manufacturers and retailers Saturday.

In a statement issued Saturday night, the DTI said representatives of manufacturers and retailers have agreed to hold off upward price adjustments until April 16 to ensure stability of prices amid the effects of ongoing conflict in the Middle East.

"This price stability effort is supported by BNPC manufacturers and retailers who have pledged to absorb current logistics and inventory pressures," it said.

Present during the meeting were representatives from Alaska Milk Corporation, Chattrade Enterprises, ...