The Department of Trade and Industry (DTI) is planning to streamline the suggested retail price (SRP) bulletin by removing certain products.
In a statement on Wednesday, Junly 3, DTI said this proposal was presented at a recent meeting of the National Price Coordinating Council (NPCC).
According to the DTI, the products suggested for removal from the SRP list include condensed milk, condensada, evaporated milk, evaporada, coffee refill, candles, salt, bottled water, condiments, and batteries.
On the other hand, items like sardines, powdered milk, bread, laundry soap, instant noodles, processed and canned meat, and toilet soap are recommended to remain on the SRP list.
"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 Pascual.
“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's release of the SRP bulletin aims to assist consumers in making well-informed purchase decisions.
Before heading to supermarkets or grocery stores, the public can consult the latest SRP list of essential and key goods.
The proposal to streamline the SRP list by the DTI is a result of consultations with various stakeholders, including the Department of Social Welfare and Development, Philippine Statistics Authority (PSA), Philippine Amalgamated Supermarkets Association, Inc., Philippine Association of Stores and Carinderia Owners, and multiple retailers.
Additionally, the DTI took into account data from the Family Income and Expenditure Survey, Consumer Price Index (CPI) basket of commodities, and popular items in sari-sari stores.
To further refine the proposal, a technical working group (TWG) will be formed to finalize the list of stock keeping units within each category, DTI said.