
THE Department of Trade and Industry (DTI) on Thursday approved the request for price hikes by manufacturers for over 63 items of basic necessities and prime commodities (BNPC).
DTI Secretary Cristina Roque told reporters that 28 percent or around 63 items of the 217 BNPCs in the suggested retail price (SRP) bulletin being issued by the DTI will adjust prices.
She said some of the items will hike prices below 5% while the others a little bit below 10%.
“So the price increase is just very minimal actually,” said Roque.
Among the basic necessities that will hike prices include dried or canned fish and other marine products; rice, corn, root crops, bread; fresh, fresh pork, beef and poultry meat; fresh eggs; potable water in bottles and containers; fresh and processed milk; fresh vegetables and fruits; locally manufactured instant noodles; coffee; sugar; cooking oil; salt; laundry soap and detergents; firewood; charcoal; household liquefied petroleum gas (LPG) and kerosene; candles; and drugs classified as essential by the Department of Health (DOH).
Prices of prime commodities will also increase such dried, processed or canned pork, beef and poultry meat; dairy products not falling under basic necessities; flour; onions, garlic, vinegar, patis, soy sauce; toilet soap; fertilizer, pesticides and herbicides; poultry, livestock and fishery feeds and veterinary products; paper; school supplies; nipa shingles; sawali; cement; clinker; GI sheets; hollow blocks; plywood; plyboard; construction nails; batteries; electrical supplies; light bulbs; steel wire; and drugs not classified as essential drugs by the DOH.
According to Roque, the DTI understands the side also of the manufacturers in approving their requests for price hikes.
She said manufacturers are complaining the increasing costs of raw materials as well as labor.
The DTI chief said the price adjustments for basic necessities and prime commodities will start next month.