DTI approves price increase on 82 basic, prime goods

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Metro Manila (CNN Philippines, May 13) — The Department of Trade and Industry (DTI) has approved raising the suggested retail price (SRP) of 82 basic necessities and prime commodities.

The Trade department announced the adjustment in a statement on Friday, noting that the costs of major raw materials and of fuel have also increased.

Among the products which now have a higher SRP are drinking water in bottles and containers, canned fish, processed and canned pork, processed and canned beef, processed milk, vinegar, soy sauce, and fish sauce or patis.

Also included are locally manufactured instant noodles, coffee, salt, laundry soap, detergent, candles, flour, toilet soap, and batteries.

"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," Trade Undersecretary Ruth Castelo said.

According to the department, the prices of 71 out of the 82 goods were adjusted by 2% to 10%. However, it said these increases are "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%," it explained.

Meanwhile, the DTI said 136 other goods retained their SRP as listed in the previous January 27 bulletin.

The full list of the updated SRPs may be viewed here

The department also urged consumers to report retailers, distributors, and manufacturers that sell basic necessities above their SRPs by contacting the agency's hotline(1-384), or email [email protected]