Price hike moratorium on items under E SRP pushed

Amidst the skyrocketing inflation, hitting another high of 5.7 percent in July, consumer group Laban Konsyumer Inc. has called for a moratorium on any price increases on items listed in the E SRP (expanded suggested retail price) until the end of the first quarter of 2019.

In a letter to Trade and Industry Consumer Welfare Group led by Undersecretary Ruth Castelo, LKI has presented a six-point recommendation to help alleviate the high cost of basic necessities and prime commodities (BNPC).

LKI President Victorio Mario Dimagiba said this as the “BER” months will start next month where more cargoes are expected in time for the high demand Christmas season.

“In two weeks’ time, we shall enter the BER months where pressures on demand and supply of BNPC (basic needs and prime commodities) can trigger another round of price increases,” said Dimagiba.

The group has also discouraged the use of easy open lid for canned products and this translates to a minimum saving of .50 centavos per can.

Together with the National Food Authority (NFA), Dimagiba urged to start the implementation of the 10 percent discount of NFA rice to the 50 percent poor of the population up to 20 kilos per month as per express provision of TRAIN 1.

The group also urged the Department of Health and the Bureau of Internal Revenue to issue the implementing guidelines on the VAT exemption of medicines for diabetes, high cholesterol, and hypertension effective Jan 1 2019 for compliance by all hóspitals, public or private and drugstores including generics nationwide.

Besides DTI and DA, LKI said that DOH should also join and deploy full time price monitors (in addition to regular employees) in all wet markets and supermarkets in all urban centers in the country.

The DTI was also asked to publish in major dailies and tabloids the updates on the E SRP and to mark the items with price increases so as to inform consumers on time. (BCM)