DTI to release updated SRP list this week

The Department of Trade and Industry (DTI) is set to release this week an updated suggested retail price (SRP) list for consumer goods, as price hikes are expected for several products.

According to a report by Lei Alviz on GMA's "24 Oras" on Thursday, the DTI is set to release the updated list on Saturday, May 4.

"If they can, refer to the suggested retail price issued by the DTI kasi 'yun 'yung guide nila para malaman nila talaga kung tama 'yung presyong binibili nila sa merkado," Trade Undersecretary Ruth Castelo said.

This comes as eight brands of sardines are to implement price hikes, ranging from P0.30 to P1.00 per can for local brands, and P1.50 per can for premium brands.

According to Castelo, the increase is due to the high price of raw materials, and the brands set to implement the hike are those that implemented a price freeze last year.

"'Yung presyo pa rin ng tamban, hindi pa rin natin 'yan nase-stabilize sa ngayon," she said.

"Also, itong mga brands na magtataas na ito, ito 'yung mga naiwan pa natin. Remember, we had a price hold-off until December last year," Castelo said.

The same report said prices of noodles are also expected to increase by 20 to 45 centavos per pack. 

"Ang mga noodles naman, since 2012 hindi gumagalaw ang presyo," Castelo said.

"Hindi na rin nila siyempre mapigilan 'yung pagtaas ng raw materials at tsaka 'yung production," she explained.

Prices of condiments—fish sauce (patis), soy sauce (toyo), and vinegar (suka)—are likewise seen to increase by 20 to 85 centavos. — Jon Viktor D. Cabuenas/BM, GMA News