After months of delaying the inevitable, the Department of Trade and Industry published Wednesday the new and updated Suggested Retail Price (SRP) Bulletin with higher prices for at least 70 stock keeping units (SKUs), including canned goods, milk, noodles and bread.
The price hikes came a day after the country posted a record inflation of 8.7 percent in January.
Trade undersecretary Carol Sanchez assured consumers the DTI made sure to allow only minimal adjustments for commodities seeking price hikes, particularly for daily consumables.
“Generally, the highest increase on food items is about P2, thereabouts, and those are mostly canned meat products and a few milk items have also increased by an average of P3,” she said.
Based on the new SRP, the retail price of budget breads Pinoy Tasty and Pinoy pandesal went up by P2 for a retail price of P40.50 per loaf while a plastic pack of pandesal went up by P1.50 for a retail price of P25 per pack.
The DTI also confirmed price increases for 6 sardines brands of about P 1 to P1.50 per 155 gram-tin can.
A noodle brand and powdered milk brand have also increased their SRP by P0.50 and P2.25, respectively.
For canned milk, a condensed milk brand increased price by P1.75 to P41 per 300 milliliter can while an evaporated milk brand now sells at P41 per 300 ml can from P37.40. About 4 skus on canned milk products introduced new price increases.
Meanwhile, 15 SKUs of canned meat—meat loaf, corned beed and beef loaf—showed increase in retail prices.
Candles have the most number of skus that have increased retail tags. There about 30 skus for candles alone.
Among the condiments, 3 SKUs of fish sauce has also enforced upward adjustments in prices as well as 5 skus on bath soaps and some detergent bar brands.
There is no movement for salt and bottled water, as well as for batteries.