Local manufacturers of basic goods and prime commodities such as canned sardines, processed milk, bread, and bath soap have asked the DTI to allow them to raise their prices, citing higher production costs. | AldenMonzonINQ /PDI
The price hike requests came from local manufacturers of basic goods such as canned sardines, processed milk, coffee, instant noodles, bread, candles as well as prime commodities like detergent and bath soap.In the DTI’s last updated SRP bulletin issued in August last year, the prices of 67 stock-keeping units on its list rose by between 3.29 percent and 10 percent. SKU is the technical term used by stores to identify and categorize specific inventories by brand or product type.
Other SKUs with price hikes were coffee refills and coffee 3-in-1 mixes . As a result, a 25-gram pack of coffee refill now sells for P18.50 to P21.50, while a 20-gram 3-1 coffee mix retails for P4.10 to P6.05. Geperzonn Lucas, a 36-year-old father of two, said that his family was luckier than most as he and his wife both had jobs.
According to him, he expects the rising costs of basic goods to have a greater impact on their living expenses once their young children start going to school.Castelo, meanwhile, said that the DTI would meet with officials from the Department of Agriculture to address the rising prices of red onion and eggs in the local market.
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