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New SRP list reflects price increases of 3.29%-10%, DTI says

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THE latest suggested retail price (SRP) bulletin for basic necessities and prime commodities (BNPCs) reflects price increases of between 3.29% and 10%, the Department of Trade and Industry (DTI) said.

It said in a statement on Tuesday that price increases were approved for 67 stock keeping units (SKUs) in the wake of higher raw material and packaging costs. The SRPs for the remainder of the 218 SKUs the DTI tracks remain unchanged.

The new SRP bulletin was issued on Aug. 12.

“Those that increased by 10% were SKUs that have not raised their prices since last year,” the DTI said.

According to the DTI, the price of canned sardines in tomato sauce increased by 6% while the price of processed milk rose between 3% and 10%.

The price of coffee refills rose between 5.81% and 9% while the price of coffee 3-in-1 mixes rose between 8% and 10%.

The DTI said the price of noodles was adjusted upwards by 3.70% while the price of detergent soap rose by 6%.

Bottled water prices rose between 3.53% and 10% while candle prices rose by 6%. Condiment prices increased between 5% and 6%.

“Amid these adjustments, the DTI remains steadfast in its commitment in ensuring that consumers have access to reasonably priced goods in the market, hence increases were kept to a minimum,” Trade Undersecretary Ruth B. Castelo said.

“The DTI is regularly monitoring the price movements of raw materials of these BNPCs, and continuously monitors retailers to make sure that prices of BNPCs are reasonable,” she added.

The Philippine Baking Industry Group has said that it will propose a P4 price increase for bread product categories known as “Pinoy Tasty” (white sandwich bread) and pan de sal products amid rising production costs.

Currently, pan de sal carries an SRP of P23.50 while Pinoy Tasty sells for P38.50.

No price increases were approved for these breads in the latest SRP bulletin. — Revin Mikhael D. Ochave

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  • Published: 1 month ago on August 16, 2022
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  • Last Modified: August 16, 2022 @ 4:05 pm
  • Filed Under: Economy, Editor's Pick

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