DTI: February SRP bulletin remains in effect
Philippines , 29 May 2023
MAKATI CITY—Department of Trade and Industry (DTI) Secretary Fred Pascual reiterated on Wednesday that prices of Basic Necessities and Prime Commodities (BNPCs) listed in the Suggested Retail Price (SRP) Bulletin as of 08 February 2023 remains valid and in force until a new bulletin is published by the Department.
The DTI, as mandated by Republic Act No. 7581 or the Price Act, as amended, issues the SRP Bulletin of BNPCs under its jurisdiction for the information and guidance of manufacturers, distributors, and consumers.
“Following the request of some manufacturers for price increase citing various reasons, the DTI continues to study these requests for validation and comparison with international prices. And of course, we need to balance the interest of different sectors, we must ensure that Filipino families will have access to affordable BNPCs,” Secretary Pascual said.
Meanwhile, DTI Consumer Protection Group (CPG) Undersecretary Atty. Ruth Castelo said that, “We carefully review the documents provided by the manufacturers as we have our own study and reliable references on the global prices of raw materials that allows us to determine the reasonableness of the requests.”
“The DTI is in constant communication with BNPC manufacturers to ensure reasonable prices and stable supply of commodities,” she added.
Consumers are enjoined to report retailers, distributors, and manufacturers that sell basic necessities and prime commodities above their SRPs via One-DTI (1-384) Hotline or email, ConsumerCare@dti.gov.ph.
