The Department of Trade and Industry (DTI) said it has not received many requests to raise prices of goods subject to the suggested retail price (SRP) scheme in the wake of the Russian invasion of Ukraine on Feb. 24. READ:
On Jan. 27, the DTI released a new SRP list for basic and prime commodities. Under the new SRP list, 73 stock keeping units out of 216 SKUs recorded price increases.
Some of the products whose SRPs rose were bottled water, processed canned meat and canned beef, instant noodles, salt, and canned sardines. According to the DTI, the increase was caused by the surge in the global prices of raw materials and packaging used for the products. —
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