THE Department of Trade and Industry (DTI) in Negros Occidental said prices of basic and prime commodities in the province remain steady as these are still within the suggested retail prices (SRPs).
Reginald Hudierez, senior trade and industry development specialist of DTI-Negros Occidental, yesterday said that based on their monitoring last week, there are no movements in the prevailing market prices of goods.
Unlike in Luzon, particularly Metro Manila, consumers have already been feeling the effects of increases in the prices of petroleum products and depreciation of the Philippine peso through upward movement in the costs of some products like milk and coffee.
The DTI central office had earlier reported that prices of canned goods and other food products are also seen to increase.
Aside from the increase in pump prices of oil and higher foreign exchange rate, the impending price increase of food and non-food products in the country is also attributed to higher costs of raw materials.
In Negros Occidental, Hudierez said they have not yet received new SRPs from the central office, which may serve as basis for establishments in the province to increase prices.
“Manufacturers have to submit the revised SRP guidelines to be approved by the DTI before prices of products being monitored by the agency can be implemented,” he said.
Local establishments are still using the SRPs released by DTI last November, providing specific prices for basic and prime commodities.
Basic commodities under DTI’s monitoring include products like soap, milk, coffee, salt, bread, and sardines. Examples of prime commodities are noodles and all kinds of canned goods except sardines.
DTI-Negros Occidental said the possibility of price increase among these products in the province is seen in the coming months especially when increasing trend on prices of petroleum products and weakening of peso value continue.
These factors mainly push the transportation costs up, prompting manufacturers to also increase the prices of their products.
The DTI, however, warned local establishments against adjusting prices, especially those above SRPs, without authority from the agency.