Manila: The Department of Trade and Industry (DTI) on Thursday issued the latest suggested retail price (SRP) bulletin for basic necessities and prime commodities, more than a year after its last release on January 12 of the previous year. The new bulletin reflects significant changes in the pricing of various consumer goods.

According to Philippines News Agency, the DTI data indicates that out of 191 shelf-keeping units (SKUs) on the latest SRP list, 77 items, or 40 percent of the SKUs, have experienced an increase in their suggested retail prices. The affected goods include a wide range of products such as canned sardines, various types of milk, coffee, bread, instant noodles, candles, luncheon meat, meat loaf, corned beef, beef loaf, salt, bottled water, condiments, toilet soap, detergent and laundry soap, and batteries.

For example, the SRP for canned sardines has risen between 5 to 15 percent, translating to an increase of 2 centavos to PHP2.73 for a 155-gram can. Similarly, milk products have seen a price hike of 6 to 10 percent, ranging from PHP2.50 to PHP6 depending on the brand and unit size. Coffee products have had their SRPs increased by 6 to 11 percent, or from 45 centavos to PHP2.20. Instant noodles have experienced an SRP increment of 1 to 7 percent, or from 10 to 50 centavos. The prices of Pinoy Pandesal and Pinoy Tasty have also risen, with a 250g Pinoy Pandesal and a 450g Pinoy Tasty now costing PHP2.25 to PHP3.50 more.

In contrast, six products have seen a reduction in their SRPs, including two canned sardines and four bottled water items. The SRP decrease for canned sardines is below 10 centavos, while bottled water has seen a decrease of up to PHP3. Meanwhile, 108 items have maintained their SRPs in the latest bulletin.

To remain competitive in the market, some brands have opted for ‘shrinkflation,’ reducing the size of a product while maintaining the same price. Nine items in the SKUs have reduced their units and maintained their SRPs, one has decreased its unit and kept the SRP, and another has increased its unit to introduce a price hike.