DTI OKAYS PRICE HIKE ON SARDINES, INSTANT NOODLES, OTHER BASIC GOODS

THE Department of Trade and Industry (DTI) has approved the request of some manufacturers to increase suggested retail prices (SRPs) of products under basic necessities and prime commodities (BNPC).

Among BNPCs that will increase their SRPs include canned sardines, processed milk, coffee, bread, instant noodles, bottled water, processed canned meat, canned beef, and condiments for food products, as well as toilet soap, candle and battery for non-food items.

According to DTI Assistant Secretary Amanda Marie Nograles, only a “small percentage” or 63 items out of 217 shelf keeping units (SKUs), will increase their prices this month.

Nograles said manufacturers of the 63 items requested for SRP hike due to higher raw materials and other operation costs.

She said the average price increase of the SKUs is only 6 percent, which is lower compared to the 10 percent average SRP hike between 2022 and 2023.

“For the food items, the price adjustment is only around 25 centavos to P7.25 pesos,” Nograles said.

The DTI official said Executive Order 41 released by Malacañang in September 2023 and which suspends the collection of pass-through fees by local government units from vehicles transporting goods, has impact in taming the price increase requested by manufacturers.

“If you will also look at the categories with price adjustments, not all brands and variants in each category have filed for notice of price adjustments,” Nograles explained.

She said the agency targets to release the new SRP bulletin within this month.