DTI asks manufacturers not to hike prices of Christmas products
The Department of Trade and Industry (DTI) called on manufacturers not to increase the price of Christmas products amid the new standard retail price (SRP) imposed on some basic necessities and prime commodities.
"We call the manufacturers not to increase the price of Christmas products this year or if there is an increase, could it be at an absolute minimum," Trade Undersecretary Ruth Castelo said during the ''Laging Handa'' public briefing on Thursday.
Castelo said in 2020, the DTI successfully asked manufacturers to maintain the price of noche buena products amid the COVID-19 pandemic.
"This year we will again try to ask them not to move or increase the price (for Christmas products) but we will also study how we can monitor the prices," she said.
"We know that ham is important for the Filipinos during the Christmas season, so we will try our best," she added.
On August 29, 2021, the DTI released new standard retail prices for a total of 76 products being sold in supermarkets nationwide.
"We published the new bulletin on August 29, so it was effective immediately but we're just giving time for the retailers to adjust their prices. They have to change the tag price or shelf tags of the product, but it was effective upon publication on August 29," said Castelo.
"The products whose prices have increased include around 76 items in the SRP bulletin because we have 216 in total but we only move the price of 76 products," she said.
Castelo said the products with new SRPs include instant noodles, coffee, milk, condiments and non-food items like detergent soap, toiletries and others.
Prices of corned beef went up P2.75.
"For the basic necessities and prime commodities, the major reason for the request for adjustment is because of the increasing cause also of raw materials especially ung packaging materials like thin cans," she said.
Castelo assures the public that the DTI will monitor the prices to ensure the new SRP's for the basic necessities and prime commodities are being followed.
"Our consumers can rest assured that the DTI monitors the prices everyday, if we notice products that is not compliant to the SRPs we call their attention, but so far our suppliers are compliant," she said. Robina Asido/DMS
