Retail food, non-alcoholic drinks prices rise sharply in Metro Manila
Metro Manila posted the sharpest rise in retail prices of food and nonalcoholic beverages in August this year compared with other
areas in the country.
The latest data from the Philippine Statistics Authority (PSA) showed that the average food and beverage prices in the National Capital Region (NCR) rose 8.6 percent last August from yearago figures.
This was a bit higher than the 8.4 percent rise in the average food and non-alcoholic beverage retail prices in areas outside NCR (AONCR), the PSA noted.
Price acceleration in the NCR also exceeded the Philippines' 8.5 percent average price increase this year for the same commodity group.
In August, 2017, the rise in the group's average retail price was slower at 5.2 percent for NCR, 2.4 percent for AONCR, and 2.9 percent for the Philippines, the PSA data showed further.
Latest SRP released As this developed, the Department of Trade and Industry (DTI) released Friday the latest list of Suggested Retail Prices (SRPs) of manufactured basic necessities and prime commodities, saying these prices will remain in effect for the next three months.
“This latest SRP will remain in effect for the next three months, or until 01 December 2018, following manufacturers’ affirmation to DTI’s appeal for price increase hold-off,” according to DTI Undersecretary Ruth B. Castelo, who is in charge of the agency’s consumer protection group. In a statement late last month, Castelo said the DTI have already met with BNPC manufacturers and appealed to stop increasing their prices in the next three months or until December 30 this year.
The new price list which took effect last September 1, now includes the Visayas and Mindanao SRPs for Fidel iodized salt while a total of seven Shelf Keeping Units (SKUs) of canned sardines, evaporated milk, corned beef, detergent soap, and toilet soap have adjustments in their SRP. Noche Buena products excluded
“The DTI thoroughly reviewed the new SRPs and made sure that there is basis for the changes. All commodities with adjusted SRPs have not changed their prices in years,” explained Castelo.
Meanwhile, the DTI reminded the public to not confuse the SRP list of basic and prime goods with that of Noche Buena products.
The DTI clarifies that the SRP list for the seasonal items is usually released every October or November of each year in preparation for the holiday season. As such, the SRPs of Noche Buena products issued on 07 November 2017 remains in effect until the release of the updated price list.
Pursuant to Section 10 of Republic Act No. 7581 or the Price Act, the DTI disseminates the SRP list for the information and guidance of producers, manufacturers, traders, sellers, retailers, and consumers.
NFA rice sufficient
Meanwhile, Castelo said that there has been enough supply of NFA rice in all its accredited retailers.
Castelo, together with National Food Authority (NFA) Deputy Administrator for Central Office Atty. Judy Carol Dansan, and Department of Agriculture-Agribusiness and Marketing Assistance Service (AMAS) Chief Junibert E. De Sagun, conducted a special market monitoring activity in Manila on Friday to check on the prices and supply of rice and other agricultural basic necessities and prime commodities.
The monitoring team found enough supply of NFA rice in all its accredited retailers in Dagonoy Public Market, Manila, contrary to reports that there is shortage in supply of NFA rice.
“We assure the consumers that the 27-peso and 32-peso variants of NFA rice are available in the market. The NFA Council, which the DTI is part of, is working together to ensure that stocks are distributed regularly to all NFA accredited retailers,” said Castelo.
On the prices of other agricultural products, the DTI and DA monitoring team found that prices of fish, vegetables, and pork are all within reasonable levels. Chicken, on the other hand, is being sold at 1160 per kilo, way above the reasonable price level.
Castelo explained that the farmgate price of chicken is 180 per kilo, adding 150 price markup, the retail price of chicken should be at 1130 per kilo only. The stall owners reasoned that their high prices are attributed to high acquisition cost. The DTI issued Letters of Inquiry (LOI) to the chicken vendors to gather information about their suppliers.