Update on Prices of Grocery Items Not Part of Suggested Retail Price (SRP)
PRICES OF GROCERY ITEMS – The supermarket owners said that the prices of products that are not part of the suggested retail price (SRP) continue to increase.
Nowadays, many Filipinos are struggling because of the high prices of several essential products. Among those with prices that increased are flour, rice, and egg. Several households are experiencing a tight budget now following the increase in the prices of several products.
The high oil costs in the country now are a factor in these price increases. Several products use oil in manufacturing while others cited the transportation expenses as the reason why they have to increase the cost of the items.
The series of oil price hikes that started in January brought the prices of diesel and gasoline to go past P90 per liter in some fuel stations for a few weeks before the recent oil price rollbacks.
However, the prices of some products continue to increase still and Filipinos remain in the challenge to let the monthly budget fit. Based on a report on ABS-CBN News, supermarket owners said that some prices of grocery items that are not part of the suggested retail price (SRP) increased.
The Department of Trade and Industry (DTI) releases SRPs on essential products. Some grocery items like noodles, canned goods, and soap are not included in the SRP released.
Based on the report, among the prices of grocery items that increased are the costs of condiments, noodles, canned goods, and soap. According to the report, Philippine Amalgamated Supermarkets Association chief Steven Cua said that it is very difficult to tell when the costs of some products would stop taking an upward trend. He stressed that even DTI may find it hard to tell.
Currently, there are pending applications for a price increase to DTI. According to the government agency, they have yet to decide on it and the verdict may be expected in a couple of weeks.
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