Price hike on basic necessities looms

Price hike on basic necessities looms
SunStar File Photo

PRICES of basic necessities and prime commodities (BNPC) in the country may see an impact on the national market starting in January, according to the Department of Trade and Industry (DTI). 

This comes after some manufacturers requested an increase in suggested retail prices (SRPs) for 67 out of 217 shelf-keeping units (SKUs) due to higher raw materials and operational costs.

“Around this month, we will start releasing letters of concurrence. Fifty-nine of those are general price increases. But two items have weight reduction and corresponding price increase, whereas two will have a weight and price reduction,” Trade Assistant Secretary Amanda Nograles told reporters over the weekend.

For food items, manufacturers are seeking price adjustments ranging from P0.25 to P7.25. 

DTI-Davao Regional Director Maria Belenda Ambi, in a phone interview with SunStar Davao on Monday, January 9, said they haven't received any price increase-related concerns in their jurisdiction yet. 

She also said their role is to monitor commodities under their jurisdiction according to the SRP, and as of now, they have not received negative feedback from consumers or monitored any price increases

Ambi clarified that if there are price adjustments, the central office will notify their department, and they will await the final evaluation and adjustment information download. 

She said that BNPC includes items like canned beef and pork, bread, candles, instant noodles, bottled water, processed milk, canned sardines, condiments, toilet soap, and batteries.

The main reason cited for the price increase requests is the adjustment of the minimum wage, which includes increased wages and the cost of energy and power. DEF


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