PRICE HIKE. A staff of the Department of Trade and Industry in Negros Oriental checks the prices of goods in a grocery store in Dumaguete City in this undated photo. The DTI in the province confirmed on Monday (May 16, 2022) a rise in the prices of basic goods and prime commodities due to an adjustment in suggested retail prices. (Photo from DTI-Negros Oriental's Facebook page)
DUMAGUETE CITY – The prices of basic necessities and prime commodities here have gone up following the latest adjusted suggested retail prices (SRPs) issued by the Department of Trade and Industry (DTI).
Nimfa Virtucio, DTI-Negros Oriental provincial director, told the Philippine News Agency on Monday that the latest SRPs were released late last week and some large grocery stores have started adjusting their prices.
“The adjustment comes in response to the request of manufacturers to allow them to increase the prices of their products due to losses brought about by the coronavirus disease 2019 (Covid-19) pandemic restrictions,” she said in mixed English and Cebuano.
Virtucio said the manufacturers had long been asking the agency for price adjustments, but DTI tried its best to hold it in abeyance at the height of the pandemic.
“But we cannot prevent it any longer because we also understand the plight of the manufacturers, who are also affected not only by the pandemic but the ongoing war in Ukraine,” she said.
Industries and manufacturing plants are highly dependent on diesel fuel to run their operations and currently, the prices of petroleum products have gone up, she noted.
She reassured the public that despite the price hikes in basic commodities, they are keeping an eye on the larger grocery stores and shopping centers to ensure that the SRP lists are followed.
Price adjustments vary from one peso or more, depending on the product, although the SRP lists have been disseminated for public guidance.
DTI’s jurisdiction is limited to basic goods and prime commodities, while livestock, meat, vegetables, and fruits are of the agriculture offices while fuel prices are the concern of the Department of Energy. (PNA)
