The Department of Trade and Industry (DTI) is set to publish the updated suggested retail prices (SRP) of 62 essential goods after the government approved price adjustments.
According to an ABS-CBN News report, among the affected products are canned sardines, canned meat, milk, and bread, with increases ranging from 2% to 9%. Pinoy Tasty will see a P3.50 hike, raising its price from P40.50 to P44, while a 10-piece pack of Pinoy Pandesal will go up from P25 to P27.25.
Trade Undersecretary Agaton Uvero clarified that while there are 217 basic and prime commodities under DTI’s watch, only 62 items were approved for price hikes. The new SRP list is expected to be published within the week, following delays after manufacturers anticipated the adjustments to take effect on February 1.
Manufacturers have not made additional requests for SRP increases, according to Uvero. However, the Philippine Bakers Association noted that breadmakers had been waiting nearly two years for the P5 increase on Pinoy Tasty and Pinoy Pandesal, citing higher raw material costs that have forced some to cut production.
Meanwhile, sardine manufacturers claim that the approved price adjustments still fall short of covering rising costs for raw materials and tin cans.
