Metro Manila (CNN Philippines, February 9) — The Department of Trade and Industry (DTI) gave its go signal for manufacturers of basic necessities and prime commodities (BNPCs) to implement price increases despite the high inflation facing consumers.
Based on the department’s latest suggested retail price bulletin, the prices of 76 or 35% of the stock keeping units (SKUs) were more expensive by ₱0.45 to ₱7. Meanwhile, 141 or 65% of the SKUs kept their August 2022 prices.The DTI said items that have increased include canned sardines in tomato sauce, processed milk, coffee 3-in-1 original, noodles, bread, detergent soap, canned meat, candles, and condiments.The DTI assures the public that price adjustments were carefully studied and kept to a minimum to ensure that affordable goods are still available in the market,” it said in a statement.The department said the decision to allow manufacturers to increase prices was necessary “to keep their businesses running” amid soaring costs of raw materials, imported products in the market, as well as logistics.It also noted that prices of basic and prime commodities “have not moved” in the last six months despite the elevated costs of production.The DTI also keeps a close watch over the movements in prices of raw materials and continues to regularly monitor the price and supply of basic goods in the market to safeguard consumers from profiteering,” it added.
