DTI to Release New SRP Guide Reflecting Price Hikes for 62 Items

The Department of Trade and Industry (DTI) announced that a new Suggested Retail Price (SRP) guide will be released this Thursday, reflecting price increases on 62 shelf-keeping units (SKUs), or commonly purchased items.

The price adjustments will cover several essential products, including:

• Sardines
• Canned meat
• Evaporated milk
• Pinoy Tasty and Pinoy Pandesal
• Candles
• Batteries

Price Increase Range
According to DTI Assistant Secretary Agaton Uvero, the price hikes have been kept within a 2% to 9% range.

“Two percent to nine percent, ganun yung range. Effective na ‘yun as far as the manufacturers are concerned, puede na sila magtaas. Sa consumer makikita nila pagtaas in the next few weeks in actual,” Uvero stated. (The range is from two to nine percent. That’s effective as far as the manufacturers are concerned; it will allow them to raise prices. Consumers will see the actual increase in the next few weeks.)

Reason for the Price Hikes
The DTI approved the increases after a thorough review revealed significant rises in raw material costs, particularly for products with imported components.

“Pag ni-review naman kasi mga raw material costs, grabe tinaas ng mga raw materials, lalo yung may mga imported components,” Uvero explained. (When we reviewed the raw materials costs, they have risen significantly, especially the imported components.)

Despite the adjustments, Uvero emphasized that the price hikes only affect 62 SKUs out of thousands of products available in the market, minimizing the overall impact on consumers.

“Sixty-two SKUs lang ito out of thousands of items, hindi naman ito karamihan,” he added. (These are just 62 SKUs out of thousands of items, so not a lot.)

The updated SRP guide aims to help consumers make informed purchasing decisions while ensuring price adjustments remain fair and justified.