Former Senator Ferdinand “Bongbong” Marcos, Jr. on Friday urged the government to implement a moratorium on price increases in basic goods amid the COVID-19 pandemic.
In its latest Suggested Retail Price (SRP) list as of August 29, the Department of Trade and Industry (DTI) permitted price increases in several basic commodities.
“I am appealing to the DTI to suspend the price increases in these basic goods since we are still in a pandemic. Many have lost their jobs, and some have even found it difficult to earn a living due to lockdowns,” Marcos said.
The SRP list showed increases as high as P2.25 in some goods. Pinoy favorites such as sardines increased by P0.50 to P0.75, canned meat was up by P0.75 to P2, and instant noodles increased by P0.25.
“Maybe for others it won’t have much effect, but for a person or family who is in poverty now, it will bring a big adjustment to their budget. They will be able to buy even less. I don’t think companies will go bankrupt if we suspend price increases on basic goods,” Marcos stressed.
Breakfast staples such as three-in-one coffee went up by P0.50, condensed milk by P0.50 to P1.25, while powdered milk by P0.50 to P1.35.
Condiments such as iodized salt went up by P1.40 to P2.25 and vinegar was up by P0.50. Detergent soap’s SRP went up by P1 as well.
SRPs for bread, bottled water, candies, toilet soap, and batteries remained unchanged.
The SRP list posted by DTI contains a range of basic necessities from canned and other food products, bottled water, dairy, and common household or kitchen supplies, and serves as a handy price guide for consumers and retail stores.
The DTI has said it has not allowed any price adjustments in the SRP since September 2019.