A CONSUMER rights advocacy group said around 70% of basic goods and prime commodities, mostly canned goods, have posted price increases since January to adjust to rising raw material costs.
Laban Konsyumer Inc. (LKI) President Victorio Mario A. Dimagiba said the increase ranged from 2% to 11% or P0.25 to P1.95 per item.
“(Based on) the old SRP list of 132 items, 93 items had increased prices since January to date, meaning 70 % of the goods increased prices,” Mr. Dimagiba, a lawyer, said in a statement Monday.
“If we use the new denominator of 211 items in the expanded SRP, 44% of goods raised prices, which is still bad news for consumers.”
The items that have increased in price include 24 canned meat products; 15 canned sardines products; 22 processed milk products; and 16 condiments.
“There were no price increases for bread, under the Pinoy Tasty and Pinoy Pandesal brands but there was no data on the premium and branded breads, which should have been added to the Expanded SRP,” Mr. Dimagiba said.
The SRP helps discourage profiteering by setting a price ceiling on some of the most-purchased items.
LKI has called for a moratorium on further price increases until the first quarter next year.
It also asked that the government discourage food processors from offering easy-open lids for canned products amid a rise in the cost of tin. The LKI also sought the immediate implementation of the 10% discount on up to 20 kilos of NFA rice per month for those living below poverty line, as provided by the tax reform law.
July inflation came in at 5.7%. — Janina C. Lim