MANILA -- The Department of Trade and Industry (DTI) is set to release this week new suggested retail prices (SRPs) of basic and prime commodities after prices of some brands of canned sardines went up, while prices of bread declined.
According to DTI, nine sardine brands increased their prices by the range of PHP0.40 to PHP0.85.
These brands with price increases were 555, Lucky 7, Family, Master, Atami, and Mikado, as well as easy-open-can brands Ligo, Mega, and Hakata.
“This is heavily attributed to the high acquisition cost of herring fish (tamban) that is currently priced at PHP32 per kilogram,” DTI said in a statement.
One brand of corned beef, which is Star, has increased its prices due to the higher cost of beef forequarter.
On the other hand, Gardenia is reverting the prices of loaf bread to October rates at PHP46.75 for 400-gram loaf bread and PHP62 for 600-gram loaf bread.
Gardenia pandesal is cutting its price by PHP1 from PHP37 to PHP36.
Other brands of bread poised to lower their prices are John Pullman Super Loaf Bread and Marby Whole Wheat.
Meanwhile, Alaska Fortified powdered milk drink declined by PHP0.50 for 80-gram pack.
“The DTI is pleased to announce that all basic and prime goods in the SRP Bulletin are retaining their current SRPs at least until the first quarter of 2019, with the exception of a few brands of canned sardines and one corned beef that will have adjustments in their prices,” DTI Secretary Ramon Lopez said.
“There are also several brands of bread and one milk brand that initiated to decrease their prices as part of the manufacturers’ social contribution to the consumers this holiday season despite not being included in the SRP list,” Lopez added. (PNA)