MANILA, Philippines – The Department of Trade and Industry (DTI) will release the new suggested retail price (SRP) for 62 basic goods this week, following government approval of price increases. The price hikes, ranging from 2% to 9%, affect essential items like canned sardines, canned meat, milk, and bread.
Specifically, Pinoy Tasty will see a P3.50 increase, rising from P40.50 to P44. A 10-piece pack of Pinoy pandesal will cost P27.25, up from P25.
Trade Undersecretary Agaton Uvero clarified that only 62 of the 217 basic and prime commodities monitored by the DTI received price adjustment approvals. He addressed manufacturers’ concerns about a previous announcement stating the price hikes would take effect on February 1st. Uvero confirmed that no further SRP adjustment requests are pending.
The Philippine Bakers Association highlighted that breadmakers have been awaiting the price increase for Pinoy Tasty and Pinoy Pandesal for nearly two years due to rising raw material costs. Many members reduced production to mitigate losses. Similarly, sardine manufacturers argue that the approved increases are insufficient to offset the rising costs of raw materials and tin cans.
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