PRICES of basic and prime commodities in Negros Occidental remained steady and within the suggested retail prices (SRPs), according to the Department of Trade and Industry (DTI).
The stable prices were reported despite the reported spike in the cost of fuel following the implementation of the tax reform law.
Lea Gonzales, provincial director of DTI-Negros Occidental, yesterday said they have not monitored any significant changes in the prices of these goods since the Tax Reform Acceleration and Inclusion (Train) Law took effect this month.
“Based on the computation, the Train has a very minimal effect on basic and prime commodities," Gonzales said, adding that “manufacturers might still be fully utilizing their old stocks and inventories resulting to steady prices of these goods.”
The law signed by President Rodrigo Dutere last December 19 imposes excise tax on sweetened beverages, petroleum, automobile, tobacco, and coal.
Basic necessities 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.
Under existing SRPs, the prices of canned sardines in 155-gram cans, for instance, still range from P14.25 to P15.75 while prices of 390 grams detergent soap remained steady at P19.35 to P20.
For other basic commodities, prices of 150 grams powdered filled milk range from P43.50 to P50; coffee with net weight of 25 grams, P16.75 to 17.75; and for bread, Pinoy pandesal remained at P21.50, and loaf bread at P35.
In terms of prime commodities, prices of instant noodles remained between P6.30 and 7.30.
Luncheon meat, meanwhile, with net weight of 165 grams costs P30.55 to P30.95.
Reginald Hudierez, senior trade and industry development specialist of DTI-Negros Occidental, cited the pronouncement of Secretary Ramon Lopez that the impact of the tax reform law to the manufacturing side is only minimal.
Hudierez said that aside from the increase in excise tax, other factors that may indirectly impact manufacturers include wage and fare increases.
“For now, there is no national wage and fare increases yet,” he said, adding that fuel price increase would directly impact manufacturers through additional hauling and manufacturing costs.
DTI-Negros Occidental will continue to conduct regular monitoring to ensure that prices of basic and prime commodities are within SRPs, he added.