Higher suggested retail price for 60 basic goods - DTI

Metro Manila, Philippines - The Department of Trade and Industry (DTI) has approved the increase of suggested retail prices (SRP) of 60 basic necessities and prime commodities.

The DTI also released on Thursday, Feb. 6, the latest SRP bulletin for 217 shelf keeping units — classified as such for their demand — which took effect on Feb. 1. The last price guide was in January 2024.

Trade Assistant Secretary Agaton Uvero said some of the approved SRP increases were petitions filed more than two years ago. As of Thursday, Agaton said there are no pending SRP adjustment requests.

“Maliliit ang tinaas, 2 to 9 percent, less than P5 halos lahat, except for four items. Tingin natin halos walang impact sa food inflation,” Uvero said in an interview.

[Translation: There were minimal increases, around 2 to 9 percent, less than P5 to those products approved with an SRP hike, except for four items. We see that it has almost no impact on food inflation.]

The DTI official said there were no sudden approvals, and that they want to help manufacturers struggling with the high costs of raw materials, especially in products of sardines and coffee.

“Meron ka pang choices na bumili ng ibang items na hindi nagtaas, so hindi tali lang sa isang item,” he advised consumers.

[Translation: Consumers still have choices to buy items that did not have a price increase. They will not be tied to just one item only.]

SRP increase were approved for evaporated milk, coffee, bread, canned goods such as sardines and meatloaf, condiments such as salt, soy sauce, and vinegar.

Some brands of detergent or laundry soap, batteries, and candles also were granted an SRP increase.

The DTI also approved a decrease in SRP for two items of bottled water, Uvero said.