DTI adjusts SRP as prices of bread, milk, canned goods go up

The Department of Trade and Industry is monitoring prices of commodities in groceries to make sure prices remain reasonable and affordable for Filipinos. —INQUIRER FILE PHOTO

MANILA, Philippines — The prices of several essential items found in the Filipino consumers’ grocery list — from bread, milk, and canned goods to detergents and batteries—are all going up.

Based on the latest suggested retail price (SRP) bulletin dated Feb. 1 of the Department of Trade and Industry (DTI), 77 out of a total of 191 commodities in the list showed varying increases in their price tags.

The basic necessities and prime commodities that raised their prices included canned sardines, salt and other condiments, condensed, evaporated, and powdered milk, coffee refill and 3-in-1, bread, instant noodles, luncheon meat, meatloaf, corned beef, beef loaf, bottled water, toilet soap, detergent and laundry soap, candles, and batteries.

READ: DTI issues new SRP; 77 items hike prices

Varied commodities

Classified into stock keeping units (SKUs) — a technical term used by stores to identify and categorize specific inventories by brand, product type, and weight—five SKUs became cheaper, while the remaining 108 retained their prices from the previous bulletin issued on Jan. 12, 2024.

Some brands maintained their SRPs to remain competitive in the market but resorted to so-called shrinkflation, or reducing the size of their products while keeping the same price.

About 10 SKUs reduced their unit sizes and maintained their SRPs.

For some brands of canned sardines, the price increase is as much as P2.73, while milk products saw adjustments ranging from P2.50 to P6.

For instance, the price of a 155-gram 555 Bonus pack went up to P19.65 from P18.75, while a 155-gram Atami regular saw its cost increase to P20.50 from P17.77.

Meanwhile, a 370-milliliter Angel evaporated milk saw its price increase to P48 from P44, while the cost of a 150-gram Birch Tree full cream milk went up to P70.75 from P64.75.

Similarly, some coffee brands and coffee refills recorded price increases of P1.75 to P3.70.

A coffee refill of a 25-gram Blend 45 coffee had its price increase to P20.25 from P18.50, while the cost of a 50-gram Great Taste premium coffee rose to P42.20 from P38.50.

For bread products, the price of a 450-gram pack of Pinoy tasty went up from P40.50 to P44, while a 250-gram Pinoy pandesal saw its cost go up from P25 to P27.25.

Price increases in some noodle products ranged from P0.10 to P0.50, while bottled water products also reflected a rise of P0.50.

An example is the higher price for a 55-gram Payless Instant Mami Chicken or Beef of P7.50, up from P7 in the previous SRP bulletin.

The price of a 325-ml SM Bonus distilled water likewise rose to P6.50 from P6, while a 1-liter Nature’s Spring bottled water saw its cost go up to P16.50 from P15.40.

For nonfood products, price hikes in some toilet soap range from P1.25 to P3.25, while a few laundry soap brands reduced their contents while increasing their price anywhere from P1.25 to as much as P2.50.

A 55-gram Green Cross toilet soap, for example, increased its price to P15 from P13.75, while the price of a 360-gram Sulit Bar rose to P19.25 from P17.75.

A pack of four Eveready batteries also increased to P206.25 from P196.50.

Consumer guide

The DTI issues the SRP bulletin to guide consumers and retailers in their purchase and sale of basic and prime goods.

The public may refer to the most recent SRP bulletin of basic and prime goods before going to the supermarkets and grocery stores and is enjoined by the DTI to report retailers, distributors, and manufacturers that sell basic necessities way above their SRPs.

The latest price changes for basic goods followed the government’s announcement on Wednesday that inflation had steadied at 2.9 percent in January, or within the government’s target.

The latest average rate of increase in consumer prices was characterized by a decline in rice prices, a first in more than three years, as well as a slower increase in utility costs.