Canned meat, noodles, bread and sardines have increased its prices by up to 10%, per new suggested retail price (SRP) bulletin released by the Department of Trade and Industry (DTI).
Trade Undersecretary Ruth B. Castelo said the latest SRP bulletin showed there were price increases for 76 shelf keeping units (SKUs), while 141 SKUs retained their prices from the August 2022 bulletin.
Usec Castelo said the price adjustments in the new bulletin are the “most fair and reasonable increases” that the DTI can allow to make sure the products remain affordable and available. Ms. Castelo said retail prices of several basic necessities and prime commodities (BNPCs), such as canned meat, sardines, noodles, bread, and milk, were raised. Ms. Castelo said 58 SKUs raised prices by up to a maximum of 10%, although 19 of these only implemented price adjustments of between 1% and 5%.
Meanwhile, Trade Secretary Alfredo E. Pascual said in a separate statement that it is intensifying the implementation of policies related to consumer prices, logistics and supply chain management, investment promotion, and collaboration with other government agencies in a bid to address surging inflation.
Mr. Pascual said the DTI is coordinating with manufacturers to ensure the “stable supply and reasonable pricing” of BNPCs both during crisis and non-crisis periods.
