THE Department of Trade and Industry (DTI) said consumer goods were at or below suggested retail prices (SRP) as of last week amid concerns over increasing prices due to the higher excise taxes on fuel.

Trade Secretary Ramon M. Lopez during the department’s year-end and outlook briefing said that as of Jan. 10, 24% or 25 of 106 commodities in the monitored stores, groceries and supermarkets sold below the SRP, while the remaining 75% or 81 were selling at the SRP. 

“In other words, they are within SRP and there are no changes in SRP. No one (retailers and manufacturers) also requested for an increase in SRP as a result of the excise tax on fuel,” he added.

“Based on numbers, based on actual surveys, a lot are selling below SRP and these are basic necessities like bottled water, candles, canned sardines, processed milk, evaporated milk, powdered milk, battery, corned beef, and even soy sauce and soap.”

Mr. Lopez reiterated that the higher excise tax on fuel has had little effect on the overall cost of goods and the cost of operations. Likewise, he noted that the prices for raw materials have not been affected by the new tax law so far.

“In fact, the news from the industries themselves is that many of the commodity prices are going down. We are talking of [products such as] powdered milk, which is good. The raw material prices are going down so that should lead to better or more competitive pricing,” he added.

Undersecretary for Consumer Protection Group Ruth B. Castelo said that aside from the ongoing price monitoring, the DTI has also set meetings with manufacturers and suppliers of basic commodities.

“Should there be any concern or real need to increase or come up with a new SRP, we have also increase the number of our enforcement teams, not only in Metro Manila but in the regions who have requested the assistance of (Regional Office Group) Undersecretary [Zenaida C.] Maglaya,” she added. — Anna Gabriela A. Mogato

RELATED ARTICLESMORE FROM AUTHOR