DTI yet to finalize SRP bulletin

The Department of Trade and Industry (DTI) has yet to finalize the latest suggested retail price (SRP) bulletin for basic necessities and price commodities, an official said Monday.

DTI Undersecretary Ruth Castelo explained that they are still negotiating the adjustment of prices after several manufacturers petitioned to increase prices in January due to higher production costs.

“We have seen justifications from the manufacturers kung bakit nila kailangan nila magtaas. Kasi varying ang percentage at peso value ng increases nila, marami tayong nakita na pwede naman o justified naman,” said Castelo in a public briefing.

(We have seen justifications from the manufacturers why they have to increase prices. Because they have varying percentages and peso values in their increases, many of them seem justified.)

“‘Yung iba na pwede naman but too high, we negotiated with the manufacturers kung pwede mababa muna or we can divide in tranches ‘yung kanilang movement,” added Castelo. 

(Some increases are too high. So, we negotiated with the manufacturers if we can reduce it or divide it in tranches.)

The DTI last updated the SRP bulletin in August 2022.

Castelo also said DTI Secretary Alfredo Pascual will make the announcement of the updated bulletin once it is finalized, adding market prices will not move without its publication.

“As of now, consumers can [be] rest assured ‘di po gumagalaw ang presyo ng lahat ng mga products ng nasa SRP bulletin ng DTI. Until we make a new publication after the August 2022 publication tsaka lang pwede mag increase ng prices ang retailers natin sa merkado,” she added.

(As of now, consumers can [be] rest assured that the prices of all products in our SRP bulletin will not be affected until we make a new publication after the August 2022 publication. Retailers in the market can only adjust the prices after its publication.) — Sundy Locus/VAL, GMA Integrated News