Prices of 67 basic necessities going up in DTI's new SRP list

·Senior Editor
·2 min read
A market stall sells basic necessities in Carbon Market in Cebu City, Philippines.
Various basic necessities on sale at a market stall in Carbon Market located in Cebu City, Philippines. Carbon Market is the main market in Cebu City. (PHOTO: Getty Images)

Canned meat and beef, bottled water, noodles and detergent soap: these are among the 67 basic necessities and prime commodities (BNPC) that will soon be pricier, as the Department of Trade and Industry (DTI) raised the suggested retail prices (SRP) of these items in its latest bulletin.

According to One News, the DTI said in a statement on Tuesday (August 16) that the products posted a 3.29 percent to 10 percent increase in SRPs, due to the rising prices of raw materials, packaging and other costs globally.

Processed canned meat and processed canned beef prices went up by by six per cent, while bottled water saw an increase of 3.53 per cent to 10 per cent. Noodles and detergent soap went up by 3.7 per cent and six per cent, respectively.

The DTI added that products that increased by 10 per cent were stock keeping units (SKUs) that had not raised their prices since 2021. And while 67 SKUs saw increases,151 out of the 218 SKUs maintained their prices from the last SRP bulletin in May.

“Amid these adjustments, the DTI remains steadfast in its commitment in ensuring that consumers have access to reasonably priced goods in the market, hence increases were kept to a minimum,” said DTI Consumer Protection Group Undersecretary Ruth Castelo.

Castelo said in a radio interview over the weekend that there had been requests for price hikes for 82 SKUs. 67 were granted, while the prices of products such as bread remained the same.

She assured consumers that DTI is working to temper any upward adjustments.

Separately, the Philippine Baking Industry Group (PhilBaking) is calling for a P4 increase in the prices of Pinoy tasty and Pinoy pandesal.

The change in the SRP comes just days after the Philippine Statistics Authority (PSA) announced the July 2022 inflation of 6.4 percent.

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