The Department of Trade and Industry (DTI) has approved price increases for 63 basic goods, with the new suggested retail prices (SRPs) set to take effect on February 1.
Out of 217 stock-keeping units (SKUs) reviewed, 63 will see price hikes, while 154 will retain their current SRPs.
Among the items with increases are luncheon meat (up 5%), meatloaf (up 4%), evaporated milk (up less than 9%), and sardines (up 5%).
DTI Secretary Cristina Roque explained that the price hikes were necessary due to rising raw material costs but emphasized that the increases were minimal, typically under 10%.
She urged consumers to compare prices and assured that the DTI would continue monitoring market prices to ensure fair trade.
Source: PhilNews24 | January 18, 2025
