The Department of Trade and Industry (DTI) will release next month the new suggested retail prices (SRPs) of basic and prime commodities to reflect adjustments in some products.
But DTI Undersecretary Ruth Castelo said the agency has yet to decide if Christmas products will be included in the new SRP list amid clamor for price freeze from consumers and calls for price increase from manufacturers.
Castelo said there will be price increases on milk, sardines and some condiments.
She said the adjustments represent the succeeding tranches of increases from the manufacturers’ requests made as far back as 2018. Price hikes on these products were also put on hold because of the pandemic.
The price increases could range from 3 to 5 percent.
Castelo also clarified price freeze cannot be imposed on Noche Buena products since these are neither basic or prime commodities.
But the DTI believes manufacturers can be prevailed upon to hold off any price increases.