MANILA – The Department of Trade and Industry (DTI) is still looking into revising the latest suggested retail price (SRP) list to reflect the impacts of increasing oil prices into costs of basic and prime goods.
During the Laging Handa public briefing Thursday, DTI Assistant Secretary for Consumer Protection Group Ann Claire Cabochan said some manufacturers are already seeking for increment on SRPs of their products, but the agency has to carefully study releasing a new price bulletin.
“So, titingnan po natin muna kung justified iyong increase (So we will look into if the proposed increase is justified),” Cabochan said.
The DTI released the current SRP list last January 27, revising the price bulletin dated Aug. 29, 2021.
Seventy-three shelf keeping units (SKUs) have increased their prices in the current SRP list.
“Kami po sa DTI ay mayroong polisiya and we have this coordination with manufacturers of these basic necessities and prime commodities. Kapag iyong kanilang hinihingi po na price adjustment ay mas mataas ng 10 percent sa presyo noong nakaraang bulletin po ay pinapakiusapan po natin iyan sila na i-stagger po iyong increase (We, in DTI, have this policy, and we have this coordination with manufacturers of these basic necessities and prime commodities. If the price adjustment that they are asking is higher than 10 percent of the price from the last bulletin, we ask them for a staggered increase),” she added.
Cabochan said the impact of higher oil prices should not reflect immediately, as manufacturers and retailers have existing inventory of raw materials and inputs before the conflict in Ukraine happened. (PNA)
