The prices of at least 35 percent or 76 basic goods and prime commodities have increased, according to the latest suggested retail price (SRP) bulletin released by the Department of Trade and Industry (DTI) on Thursday.
In its latest bulletin, the DTI said commodities such as canned sardines in tomato sauce, processed milk, 3-in-1 original coffee, noodles, bread, detergent soap, canned meat, candles, and condiments went up by Php 0.45 to Php 3.60.
"External factors such as the high cost of raw materials, the high acquisition cost of finished imported products, packaging materials, logistics, and transportation costs greatly affected the prices of goods," it said.
Meanwhile, at least 141 or 65 percent of basic goods maintained their prices.
The trade department vowed that it shall closely monitor the movements in prices of raw materials as well as the price and supply of basic goods in the market to protect consumers from profiteering.
To access the latest price guide issued by DTI as of February 8, click here.
