DTI assures price increase in prime commodities won’t exceed 10 percent

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THE Department of Trade and Industry (DTI) assured the public that increases in the suggested retail price (SRP) of 82 primary products will not exceed 10 percent.

DTI Undersecretary Ruth Castelo said during the Laging Handa public briefing that manufacturers asked for a bigger price increase but the DTI only approved a 10-percent maximum adjustment.

She said the increase will not be felt much by consumers since the price increase will be at P0.15 up to P1.

Products covered are canned fish (sardines), bottled water, processed milk, coffee, salt, and others.

Castelo likewise said that they cannot anymore prevent the price hike sought by manufacturers since prices of raw materials went up by 32 percent, coupled with a more than 28 hike in petroleum products.

However, Castelo said the DTI tried its best to bring to a minimum the increase in SRP of primary commodities.

The new SRP, she said, covers supermarkets and grocery stores in the country, but not the convenience stores and sari sari stores.

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