After the National Economic and Development Authority reported that the inflation rate last month was unchanged at 2.9 percent, the country’s Trade Department announced that they greenlighted an upward adjustment to basic necessities and prime commodities favoring some manufacturer's request-- at the expense of consumers.
 
Trade Secretary Cristina Roque on Thursday announced that based on the latest suggested retail price (SRP) dated 1 February 2025, there was an increase in SRPs to 77 stock-keeping units (SKUs) out of 191 SKUs.
 
Products with the price increase include canned sardines (7 SKUs), condensed milk (1), evaporated milk (1), powdered (1), coffee refill (5), coffee 3-in-1 (4), bread (2), instant noodles (3), candles (5), luncheon meat (1), meatloaf (1) corned beef (4), beef loaf (3), salt (6), bottled water (5), condiments (15), toilet soap (6), detergent and laundry soap (6), and battery (1).
 
For instance, the SRP increase of canned sardines ranges between 5 to 15 percent, or two centavos to P2.73 increment for a 155-gram can.
 
Milk SRPs have an increase of 6 to 10 percent, or from P2.50 to P6 depending on brand and unit.
 
For coffee, the SRP hike approved by the department ranges between 6 to 11 percent, or from 45 centavos to P2.20.
 
Instant noodles have SRP adjustments ranging from 1 to 7 percent, or from 10 to 50 centavos.
 
Since the SRP bulletin dated Feb. 8, 2023, SRPs for Pinoy Pandesal and Pinoy Tasty have not moved.
 
This year’s SRP issuance, the 250g Pinoy Pandesal and 450g Pinoy Tasty increased by P2.25 to P3.50.
 
On the other hand, six products have lower SRPs, including canned sardines (2) and bottled water (4).
 
SRP changes in canned sardines were only below 10 centavos while a decrease in SRP of bottled water was as high as P3.
 
Manufacturers ‘fooled’
 
Meanwhile, a manufacturer who requested anonymity revealed that a number of the SKUs in the list are no longer available on the shelf and that the list of products and the SRPs indicated therein had not been subject to consultations with BNPC manufacturers and retailers before release.
 
“Last year, the DTI called several meetings with BNPC manufacturers to discuss the streamlining of the issuance or revision of the SRP. Some of the proposals include replacing the SRP with a Price Guide, focusing on BNPC products that are commonly bought by the bottom 30 percent of the population based on the consumer price index, and using the guide as a reference for the price range and average price of the SKU in the list,” the source said.
 
Further, the manufacturer stated that the formal discussions ceased given the changes in the leadership of DTI late last year.
 
“So, it comes as a surprise that the latest SRP list was released without informing the industry of the status of those discussions. We look forward to hearing their future direction regarding these initiatives,” the tattler stated.