The Department of Trade and Industry (DTI) released its latest suggested retail price (SRP) bulletin on Thursday, marking the first update since January 12 of the previous year. Of the 191 items listed in the new SRP, 77 products, or 40%, have seen price hikes.

Among the affected products are canned sardines (7 types), condensed and evaporated milk (1 each), powdered milk (1), coffee (refill and 3-in-1 varieties), bread (2 types), instant noodles (3 brands), candles (5), luncheon meat (1), meat loaf (1), corned beef (4 brands), beef loaf (3), salt (6), bottled water (5), condiments (15), toilet soap (6), detergent, and laundry soap (6), and batteries (1).

For example, canned sardines experienced price increases ranging from 5 to 15 percent, with a PHP2.73 increase for a 155-gram can. Milk prices have gone up by 6 to 10 percent, or PHP2.50 to PHP6, depending on the brand and unit. Coffee prices have risen by 6 to 11 percent, or between 45 centavos and PHP2.20. Instant noodles have seen price increases between 1 to 7 percent, or 10 to 50 centavos.

Notably, the SRPs for Pinoy Pandesal and Pinoy Tasty, which had remained unchanged in the previous SRP bulletin from February 2023, have increased by PHP2.25 to PHP3.50 for the 250g Pinoy Pandesal and 450g Pinoy Tasty.

In contrast, six products have experienced lower SRPs, including some canned sardines and bottled water. The decrease in canned sardines is minimal, under 10 centavos, while bottled water prices have dropped by up to PHP3.

Additionally, 108 products have maintained their SRPs. Some brands, however, have opted for “shrinkflation,” reducing product sizes while keeping the same price. Nine items reduced their units but kept their SRP, one decreased its unit size and maintained the price, while another increased its unit size to justify the price hike. (PNA | Kris Crismundo)