DTI approves SRP hike for some basic products
DTI approves SRP hike for some basic products
DTI approves SRP hike for some basic products
by Mary Antalan26 January 2024
Photo courtesy: DreamsTime and DTI logo

The Department of Trade and Industry (DTI) has approved the requested hike for some basic products.

This move came after manufacturers of nine stock-keeping units requested an suggested retail price (SRP) adjustment.

"Instead of the DTI that really initiates the adjustment, there is a notification from the manufacturer that they would like an adjustment in the suggested retail price, and that's what we reviewed," DTI Secretary Fred Pascual said in a press briefing last Wednesday, January 24.

In the latest pricing, the price hike for sardines will range from P2 to P3.59, P3.50 to P6 for powdered milk, and P1.50 to P4 for toilet soap.

Meanwhile, the DTI said it is set to study manufacturers' request to hike prices of 45 more products.

"We are studying the best way to stabilize the prices of basic necessities and prime commodities. Either an SRP is the best mechanism for stabilizing prizes, or there are other ways, which the study should locate," Pascual said.

Meanwhile, on Thursday, RH Edniel Parrosa reported that sari-sari stores owners, particularly in San Juan, were opposed to the said increase as it could be a burden to their customers.

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