DTI OKs SRP hike for 82 basic necessities, prime commodities

The Department of Trade and Industry (DTI) has released an updated list of suggested retail prices (SRP) of basic necessities and prime commodities, approving SRP hikes for 82 items.

In a statement on Friday, the DTI said that out of 218 stock keeping units (SKUs) in the retail price guide list, 62%, or 136 items, retained their current price levels in effect since January this year.

The DTI said it also approved a "minimum increase" for the remaining 38%, or 82 SKUs, in the latest SRP list.

The Department of Trade and Industry releases an updated list of suggested retail prices on basic and prime commodities. pic.twitter.com/0pypYuOytY

— Ted Cordero (@Ted_Cordero) May 13, 2022

The products with approved SRP hikes include bread, canned fish, potable water in bottles and containers, processed milk, locally manufactured instant noodles, coffee, salt, laundry soap, detergent, candles, flour, processed and canned pork, processed and canned beef, vinegar, fish sauce (patis), soy sauce, toilet soap, and batteries.

The DTI added that prices of 71 out of the 82 SKUs adjusted their prices from 2% to 10%.

Nonetheless, the Trade department said that the price increase was still less than the global price movement of raw materials. 

“To illustrate, the prices of major raw materials like tamban (for canned fish products), mechanically deboned meat (for processed meat products), buttermilk (for processed milk), and palm oil (for toilet paper and instant noodles) increased by 0.56% to 32.14%. Additionally, fuel prices went up by 28.84%,” the DTI said.

The DTI issues the SRP list to continuously guide consumers and retailers in their purchase and sale of basic and prime goods.

Before going to the supermarkets or grocery stores, the public can check the most recent SRP list of basic and prime goods.

The price guide is also accessible via the DTI website. 

“The Department carefully evaluates the requests for price adjustments from the manufacturers of BNPCs under the DTI’s jurisdiction. It is imperative that the DTI and the industry collaborate to ensure the consumers of high-quality products at affordable prices,” said Trade Secretary Ramon Lopez.

“Despite the adjustments in several basic and prime goods, the DTI assures the public that all increases in the SRPs were kept to a minimum level to provide consumers with reasonably-priced goods amidst the pandemic," added Trade Undersecretary Ruth Castelo.

The DTI urged consumers to report retailers, distributors, and manufacturers that sell basic necessities above their SRPs via the One-DTI (1-384) Hotline or email, ConsumerCare@dti.gov.ph. —VBL, GMA News