NextGen Day

CEBU CITY, Philippines — The Central Visayas Department of Trade and Industry (DTI) has urged shops to adhere to the suggested retail price (SRP) on basic items to help mitigate the impact of inflation brought on by the pandemic and the continuing crisis in Ukraine.

The dynamics of the movement of prices of basic commodities, according to Maria Elena Arbon, DTI-7 regional director, are influenced by the rising cost of raw materials up to manufacture and from manufacturing to distribution to consumers.

“Ngano ni sjla increase man? Unsay panghitabo karon sa kalibutan kitang tanan kahibalo man. Sige pud ta explain unsay hinungdan ani so kaning atong pagtaas sa presyo sa palaliton sa Ukraine war. siya gyud ni global (What is the cause of the increase? We are all aware of what is going on in the world. We continue to explain the causes of the rise in commodity prices due to the Ukraine war. “(This is a worldwide phenomenon),” Arbon added.

Arbon’s comments came after the DTI central office released the revised suggested retail pricing (SRP) for essential needs and prime commodities as a price guide for 218 stock keeping units (SKU) under its jurisdiction in a national broadsheet last week.

The DTI approved a minimum increase for 82 basic needs and primary commodities (BNPCs) in its newest SRP list, while 136 SKUs (62%) kept their Jan. 27, 2022 SRP bulletin rates.

Bread, canned fish, potable water in bottles and containers, processed milk, locally manufactured instant noodles, coffee, salt, laundry soap, detergent, candles, flour, processed and canned pork, processed and canned beef, vinegar, fish sauce (patis), soy sauce, toilet soap, and batteries, according to the DTI-7 statement.

Additional SKUs such as bareta bar white (360g) and bareta bar fabcon are included in the guide (360g).

While 86 percent of prices, or 71 out of 82 SKUs, increased by 2 to 10%, the DTI-7 noted that the increase was still less than the global price movement of raw materials.

“Six of the 16 SKUs that cover canned sardines that we have under surveillance have seen price increases. “The rise runs from 3.92 percent to 5.35 percent, or 65 to 85 centavos in peso terms,” Arbon added.

The SRP list was created by the DTI to assist consumers and merchants in the purchase and selling of basic and premium items.

Before visiting supermarkets and food stores, the public can consult the most recent SRP list of basic and prime commodities.

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