Ten items to be cut from SRP list – DTI
THE Trade Department is planning to reduce the number of items with suggested retail prices (SRP) in a bid to make the list more relevant.
“By aligning the SRP with essential daily and emergency items, we are taking a significant step toward better price stability and consumer protection,” Trade Secretary Alfredo Pascual said on Wednesday.
Ten items are set to be delisted: condensed milk, condensada, evaporated milk, evaporada, coffee refills, candles, salt, bottled water, condiments and batteries.
To be retained, meanwhile, are sardines, powdered milk, bread, laundry soap, instant noodles, processed and canned pork, beef and poultry meat, and toilet soap.
The decision followed consultations with other concerned agencies, including the Department of Social Welfare and Development and the Philippine Statistics Authority, and private sector groups such as the Philippine Amalgamated Supermarkets Association Inc. and Philippine Association of Stores and Carinderia Owners along with several retailers.
Data from the Philippine Statistics Authority’s Family Income and Expenditure Survey and the consumer price index basket of commodities, along with a list of the top-selling items in sari-sari stores, were also considered.
The Trade Department monitors and issues a regular SRP bulletin that serves as a guide to consumers in purchasing basic necessities and prime commodities.
By streamlining the bulletin, the department said that it would be “more focused and informative, rather than confusing.” The suggestion was said to have been made during a special meeting of the National Price Coordinating Council (NPCC) on June 27, 2024.
A technical working group will finalize the proposal, and the updated list of stock-keeping units is expected to be released in a month, the department said.
As a key implementing agency of the Price Act and head of the NPCC, the Trade Department is mandated to ensure price stability and adequate supply of basic goods.
Section 10 (5) of the Price Act provides that implementing agencies can issue suggested reasonable retail prices for any or all basic goods under their jurisdiction. The information will serve as a guide for producers, manufacturers, traders, retailers and consumers.