The Department of Trade and Industry’s (DTI) Consumer Protection Group (CPG) announced plans to declutter the Suggested Retail Price (SRP) Bulletin by removing certain non-essential items.
Trade Undersecretary for CPG Amanda Nograles noted that bottled water, candles, condiments, and processed milk will be among the first items to be removed.
“CPG is currently revising the bulletin and will soon release the updated SRP,” she said.
However, she clarified that these products will still be monitored to prevent unjustified price hikes.
The decision to revise the SRP Bulletin is aimed at focusing on essential goods that significantly impact consumers’ budgets.
Core necessities like sardines, powdered milk, bread, laundry soap, instant noodles, processed and canned meats, and toilet soap will remain on the list.
The DTI’s proposal is based on extensive consultations with various stakeholders, including government agencies, industry associations, and individual retailers.
Data from surveys and the Consumer Price Index were also considered to ensure the revised SRP accurately reflects the most crucial goods for Filipino households.
Although the removed items will no longer have SRPs, manufacturers will still need to notify the DTI of any price adjustments to ensure transparency and prevent undue price increases.
Be the first to comment