DTI issues latest SRP Bulletin of basic and prime goods
Philippines , 17 August 2022
To keep the retailers, distributors, and consumers updated on the Suggested Retail Prices (SRPs) of Basic Necessities and Prime Commodities (BNPCs), the Department of Trade and Industry (DTI) published the SRP Bulletin on 12 August 2022 in the Philippine Star and the People’s Journal.
In the latest Bulletin, 151 Stock Keeping Units (SKUs) or 69.27% maintained their 11 May 2022 prices, while 67 products adjusted their SRPs due to rising prices of raw materials and packaging and other costs globally. Prices of these BNPCs increased by 3.29% – 10%. Those that increased by 10% were SKUs that have not raised their prices since last year.
“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,” DTI Consumer Protection Group Undersecretary, Atty. Ruth B. Castelo, underscores.
The Undersecretary also emphasized that 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.
Canned sardines in tomato sauce increased in price by 6%, while processed milk price increased by 3% to 10%. Increases in coffee refill were seen at 5.81% to 9%, and by 8% to 10% in coffee 3-in-1 mixes.
Similarly, the prices of noodles and detergent soap went up by 3.70% and 6%, respectively. Bottled water prices increased by 3.53% to 10%, while candle prices raised by 6%.
Prices of processed canned meat and processed canned beef have increased by 6%. Condiment prices, on the other hand, rose by 5% to 6%.
The DTI reminds consumers to exercise their right to choose among the available low-cost, high-quality products in the markets. Consumers are requested to report retailers, distributors, and manufacturers that sell BNPCs above their SRPs via One-DTI (1-384) Hotline or email, ConsumerCare@dti.gov.ph. ♦
