The Department of Trade and Industry (DTI) has issued its latest Suggested Retail Price (SRP) bulletin for basic necessities and prime commodities, marking the first update since January 12 of the previous year. The new bulletin covers 191 stock-keeping units (SKUs), with 77 items—about 40% of the total—experiencing price increases.
According to the DTI, the adjustments were driven by rising costs of raw materials, packaging, and other global economic factors. However, the agency assured the public that price hikes were kept to a minimum to ensure continued access to affordable essential goods.
Breakdown of Price Adjustments
Among the 191 SKUs listed, 151 items, or approximately 69%, maintained their prices from the last SRP bulletin. Meanwhile, 67 products saw an increase in SRPs, with price hikes ranging from 3.29% to 10%. The higher end of the adjustments applied to products that had not raised their prices since the previous year.
Products affected by the price increases include canned sardines, milk, coffee, instant noodles, candles, processed meat, condiments, bottled water, and toiletries. For example, canned sardines saw an SRP hike of 5% to 15%, translating to an increase of PHP 0.02 to PHP 2.73 per 155-gram can. Similarly, milk prices rose by 6% to 10%, adding PHP 2.50 to PHP 6 to the cost per unit, depending on the brand and type.
“Shrinkflation” Observed in Some Products
Aside from price hikes, the DTI noted that some manufacturers have resorted to “shrinkflation,” a practice where product sizes are reduced while maintaining the same retail price. The bulletin identified nine SKUs that had decreased in size without altering their price, while one product reduced its unit size but retained its SRP. Meanwhile, one SKU increased its unit size as part of a price adjustment strategy.
Consumer Guidance and Reporting Mechanism
The DTI encourages consumers to stay informed by regularly checking the SRP bulletin when shopping. The agency also advises the public to compare available products to find high-quality, affordable alternatives. Any instances of retailers selling basic goods above the suggested prices should be reported to the One-DTI Hotline (1-384) or via email at [email protected].
By closely monitoring price movements, the DTI aims to balance consumer welfare and business sustainability, ensuring fair pricing amidst economic fluctuations.