The Department of Trade and Industry (DTI) reminds retailers and distributors that prices of basic necessities and prime commodities listed in the 12 August 2022 Suggested Retail Price (SRP) bulletin must be within their SRP.
The DTI, as mandated by Republic Act No. 7581, or the Price Act, as amended, “from time to time may issue suggested reasonable retail prices for any or all basic necessities and prime commodities under its jurisdiction for the information and guidance of producers, manufacturers, traders, dealers, sellers, retailers, and consumers.”
Amidst the price movement in the global market of raw and packaging materials, the DTI received requests from manufacturers of certain commodities. These include canned meat, sardines, and bread, among others.
The DTI, however, clarifies that only some manufacturers of these Stock Keeping Units (SKUs) of these product categories seek price adjustments. Moreover, those that seek an increase have not adjusted their prices since 2019, some even as far back as 2016.
“The Department is in constant communication with the manufacturers of basic and prime goods to check that requests for adjustments are reasonable. The DTI assures the public that any adjustment, after careful study, will be kept to a minimum,” said DTI-Consumer Protection Group Assistant Secretary, Atty. Ann Claire C. Cabochan.
The Department reminds consumers to exercise their right to choose among the available low-cost, high-quality products in the markets.
Consumers are requested to report retailers, distributors, and manufacturers that sell BNPCs above their SRPs via One-DTI (1-384) Hotline or through email at ConsumerCare@dti.gov.ph.