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New retail rates suggested by DTI-Negros

Following the Department of Trade and Industry’s newest adjusted suggested retail prices (SRPs), the prices of basic necessities and core commodities have risen (DTI).

The latest SRPs were announced late last week, according to Nimfa Virtucio, DTI-Negros Oriental provincial director, and several large grocery retailers have begun to modify their pricing, according to the Philippine News Agency.

“The change is in response to manufacturers’ requests to allow them to raise product prices because of losses caused by the coronavirus disease 2019 (Covid-19) pandemic restrictions,” she remarked in a mix of English and Cebuano.

Manufacturers had been requesting pricing increases for a long time, according to Virtucio, but DTI sought to put it on hold during the pandemic.

“However, we can no longer prohibit it since we understand the misery of the manufacturers, who are badly affected not only by the pandemic but also by the current conflict in Ukraine,” she said.

She pointed out that industries and manufacturing plants rely heavily on diesel fuel to run their operations, and that the price of petroleum goods has recently increased.

Despite the price increases in basic items, she informed the public that they are keeping a watch on the larger grocery stores and shopping malls to ensure that the SRP lists are followed.

Although the SRP lists have been released for public information, price adjustments range from one peso to more, depending on the product.

The DTI’s jurisdiction is confined to basic goods and prime commodities, whereas agriculture offices are responsible for livestock, meat, vegetables, and fruits, and the Department of Energy is responsible for fuel prices.

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