Price increases in the new round of suggested retail price (SRP) bulletin will be kept below inflation, according to the Department of Trade and Industry’s (DTI).
Inflation hit 6.1 percent in June.
DTI Undersecretary Ruth Castelo of the Consumer Protection Group (CPG) said as a policy, the agency limits the products for price hike to 30 percent of the 200-plus stock keeping units (SKUs) of basic and prime commodities in the SRP.
She said this will give consumers have the option to buy those that did not increase their prices.
Castelo said the new SRP bulletin is yet to be released pending review by DTI Secretary Alfredo Pascual.
Castelo added the DTI has also set a meeting with manufacturers to convince them to temper the price increases.
The DTI has received petitions for price hike of certain products like canned meat, coffee, bread, and detergent.
The DTI has 218 stock keeping units.
