DTI planning to cut down items on SRP list
THE Department of Trade and Industry (DTI) said on Wednesday that it will reduce the number of items on the suggested retail price (SRP) bulletin.
In a statement, the DTI said that the proposal was presented to a special meeting of the National Price Coordinating Council last week.
“Our goal with this proposal is to improve the usability and relevance of the SRP Bulletin, making it a more effective tool for consumers to make informed purchasing decisions,” Trade Secretary Alfredo E. Pascual said in the statement.
“By aligning the SRP with essential daily and emergency items, we are taking a significant step towards better price stability and consumer protection,” he added.
The DTI is proposing to reduce the number of stock keeping units (SKUs) being monitored from the current 217 SKUs.
It proposed to delist condensed milk, evaporated milk, coffee refills, candles, salt, bottled water, condiments, and batteries, among others.
The proposed streamlined SRP will focus on sardines, powdered milk, bread, laundry soap, instant noodles, processed and canned pork, beef, poultry meat, and toilet soap.
The proposal follows consultations with the Department of Social Welfare and Development and the Philippine Statistics Authority.
Also consulted were the Philippine Amalgamated Supermarkets Association, Inc., the Philippine Association of Stores and Carinderia Owners, and various retailers.
“Additionally, the DTI considered data from the Family Income and Expenditure Survey, consumer price index basket commodities, and top-selling items in sari-sari stores,” the DTI said.
The DTI is organizing a technical working group to finalize the list of SKUs within each category.
The DTI, under the Price Act, is empowered to issue SRPs for any or all Basic Necessities and Prime Commodities, to guide producers, manufacturers, traders, retailers, and consumers.
Undersecretary Jose Edgardo G. Sunico said that the streamlined SRP list is targeted for release within the month. — Justine Irish D. Tabile