DTI notes price hikes in some basic goods

The Department of Trade and Industry-Cebu has noted price increases in some basic goods.

Based on its monitoring as of early October, the agency noted at least eight commodities that have increased prices.

These products include four processed canned meat, two brands of sardines, a bath soap brand and vinegar.

The DTI monitoring found that a King Cup brand sardines (155 grams) rose P0.45 centavo to P14.25 per can from its previous P13.80.

The price of a Family Budget Pack sardines (130 grams) also increased P13.25 from P12, up by P1.25.

Argentina meat loaf and corned beef are among the processed meat that rose in prices.

The meat loaf increased to P17.95 from P17 while the corned beef went up to P30.95 from P29.50.

Prices of 555 beef loaf (150 grams) and Argentina beef loaf also saw increases to P17.45 from P16.75 and P16.85 from P16.50, respectively.

Moreover, a bottle of Datu Puti (350 ml) vinegar is now sold at P19.95 from P19; and a Safeguard white bar (60g) rose to P17.25 from P17.75.

DTI-Cebu officer-incharge Esperanza Melgar had reported this to the recent Provincial Local Price Coordinating Council meeting.

The council was recently reactivated amid the rising prices of basic commodities including transport.

DTI regional chief Asteria Caberte earlier said the council had decided to meet monthly to have a timely analysis on price pressures.

As of September, the country’s inflation hit a new record nine-year high of 6.7% amid rising costs of basic food items and fuel.

Economists have projected that inflationary pressures could sustain throughout the year's end as the government insisted measures to taper off inflation have been implemented. —