DTI pushes for another month of stable prices despite hike requests
The Department of Trade and Industry (DTI) is optimistic that it will secure commitments from major manufacturers to hold off on price adjustments for the coming month, even as some companies are already pushing for hikes amid rising logistics costs.
The DTI earlier reached a deal with makers of basic necessities and prime commodities (BNPCs) to defer price adjustments until May 10 only.
Since then, Trade Secretary Cristina Roque said manufacturers have been requesting the DTI’s approval for price adjustments covering around 32 percent of the products it monitors.
The DTI has jurisdiction over essential goods such as canned sardines, canned meat, coffee, processed milk, instant noodles, condiments, laundry soap, toilet soap, candles, salt, batteries, bottled water, and bread.
Roque said manufacturers facing higher logistics costs due to rising fuel prices are pushing the DTI to approve upward adjustments to the suggested retail prices (SRPs) of their products.
This includes certain manufacturers of canned sardines, whose fuel consumption is double that of other companies because they also use vessels to catch fish aside from regular logistical operations.
There are also requests for price hikes for instant noodles.
Roque said these manufacturers filed petitions for increases of less than 10 percent from the current prices of their goods.
This means that a 155-gram can of canned sardines currently priced at ₱19.65 could cost as much as ₱21.62.
Roque said the proposed price hikes are still under review by the DTI, although she noted that the government wants to push for another month of stable prices in June, especially with the opening of classes for the new school year (SY).
She said manufacturers of school supplies such as notebooks and pencils have not yet asked the agency for any price increases.
With this, the DTI chief said she hopes these firms will also move to keep prices stable to shield consumers from additional costs.
The DTI reported last year that 101 stock keeping units (SKUs) of school supplies kept their prices at the same level as in 2024, while 17 items registered increases and 29 goods posted reductions.