MANILA, Philippines — The Department of Trade and Industry (DTI) has approved price increases to be implemented across 67 categories of primary and essential goods.
This includes some brands of milk, sardines, canned meat, detergents, and other products. The price rise will be between 3 and 10 percent, equivalent to 0.30 and more than 10 pesos.
Ann Claire Cabochan, who serves as an assistant secretary for trade, the department affirmed that they conducted extensive research before authorizing businesses to increase prices.
“Nagne-negotiate tayo with the manufacturers to really temper any price adjustment and nakikita naman natin kung nag-adjust man tayo ng prices, justified dahil sa increase ng raw materials.”
Ann Claire Cabochan
(We are negotiating with the manufacturers to really temper any price adjustment, and as we can see, the price increases are justified due to the increase in raw materials.)
“Kailangan din naman ang ating manufacturers, mayroon naman silang reasonable profit,” she added.
(Our manufacturers also need to have a reasonable profit.)
Stephen Cua, president of the Philippine Amalgamated Supermarkets Association, says that the recently revealed suggested retail price is causing problems for supermarket operators.
“Gusto nila P0.05 ang smallest denomination, paano susuklian ang may sentimong butal? Kahit pagsamahin mo ‘di babagsak na sakto to the nearest P0.05. Sana ayusin,” Cua said.
(They want the smallest denomination to be P0.05; how will the one with a cent be exchanged? Even if you put them together, it won’t come down to the nearest P0.05. I hope it can be fixed.)
In response, DTI officials assured everyone that the newly established rates for essential goods had been subjected to comprehensive investigation.