DTI will allow price increases of some commodities
The Department of Trade and Industry (DTI) said Wednesday it will allow the increase of the standard retail price of some basic commodities in the market.
During the "Laging Handa" public briefing, Trade Undersecretary Ruth Castelo said: "Until now we are still completing the study. Some will be denied while others will be approved. It will depend on the price of the raw materials that are mostly imported."
"Because the price of the raw materials in the international market increases, including the logistics or their distribution cost, some will be allowed to have a slight increase while requests of others will be denied," she added.
Castelo said the product which remains under study for price increase includes canned sardines, instant noodles, coffee, milk, bread, canned meat and other canned goods.
"Our study includes the price of bread. There is one brand included there, the Pinoy Tasty and Pinoy Pan de sal, so that is included. And then, we also have canned meat also whether it’s corned beef or meatloaf or other canned goods," she said.
Castelo said the DTI is set to also issue an standard retail price for school supplies as the next school year will formally open on August 22.
"We really issue SRP every year, over the years, because DTI is included in Brigada Eskwela of DepEd... except in the last two years, 2020 and 2021. But now we will release it to guide our consumers of school supplies," she said.
"We will release it anytime soon. Hopefully, we will be able to finish it this week until early next week. We will see the price range of the product. especially the school supplies, it has different qualities, depending on the volume,'' she added. Robina Asido/DMS
