Prices of most prime commodities still stable
ITY OF SAN FERNANDO---The Department of and Industry (DTI) yesterday said that the suggested retail price or SRP of majority of prime commodities in Central Luzon remained stable in the past two months despite the devaluation of the peso against the dollar and increase in oil prices.
The DTI noted that from August to October 2017, there were no changes in the SRP of 147 of the 159 items monitored by the department.
Prime commodities whose prices have not changed include candles, batteries, toilet and detergent soap, condiments, bottled water, processed milk, coffee refill, bread (including Pinoy Tasty and Pinoy Pandesal) and noodles.
Among the prime commodities monitored by DTI, an average of P0.86 price increase were registered in the SRP of canned meat products in 11 of 27 monitored items for the same period. The price increases in the 11 items ranged from P0.25 to P3.80. For canned sardines, only one brand
registered an increase in SRP.
The stable prices come as a welcome note as Filipinos prepare for All Saints Day and the holiday season. Economic indices also point to stable prices of basic good and prime commodities. Inflation rates for both the first and second quarters of 2017 are still at 2.8 percent, according to the Philippine Statistics Office, with meat registering a slightly higher increase of 3.9 percent for the second quarter of 2017.
As consumers celebrate Consumer Welfare Month this October, buyers are advised by DTI to check the SRP, weight, label and price tags of consumer products when buying. Consumers are also reminded to be vigilant especially when buying online.