THE Department of Trade and Industry-Davao City (DTI-Davao City) reported a three- to 10-percent increase in basic necessities and prime commodities for the entire month of August 2022.
DTI-Davao City Director Rachel Remitio told SunStar Davao in a phone interview on Tuesday, August 30, that their office approved an update suggested retail price (SRP) last August 12 on prime products such as coffee, milk, noodles and canned goods. Also affected are condiments such as vinegar, patis, and soy sauce.
"Kani siya na (This is) another round of increases sa atong (of our) suggested retail prices. Nag-increase (There is an increase) of about three to 10 percent sa presyo sa atong (in the prices of our) commodities," Remitio said.
This is the third round of approved increases of the SRP this year, she said, with the previous increase being in January and May.
The DTI official said the recent oil price hike was triggered by the recent conflict between Russia and Ukraine.
"Because ang reason gyud sa mga (the reason of our) manufacturers for the request for increase of prices is ang (the) increase in the production cost, including kaning mga (the) logistics or distribution cost. Mao ni ilang gi-cite (That’s what they cited), meaning we are still being affected by the increase of prices," Remitio said.
The approval of the SRP increase undergoes a strict process, which needs to be approved by the central office, she said.
The DTI official said they are strictly monitoring the compliance of 31 establishments, including big supermarkets in the SRP.
Based on their latest monitoring, Remitio said only one establishment did not comply with the SRP last week.
"Based sa monitoring nato sa (on the monitoring of our) suggested retail price, naa ta nakita na deviations o wala pagsunod (we saw deviations in the implementation), but immediately gi-change man pud nila para mu-comply sila didto sa (they immediately changed it so they can comply with the) suggested retail prices," she said.
Remitio said some establishments would reason out that the prices were already passed to them by the distributions, making it hard to comply with the SRP.
However, she said they are mandated to comply with the SRP, in accordance with Republic Act No. 7581 or “The Price Act.”
Notably, DTI did not approve any adjustments to the SRP for the past two years due to the Covid-19 pandemic.