PHOTO CAPTION: DTI-Iloilo OIC Director Felisa Judith Degala (inset) said that there still are no approved adjustments in the Suggested Retail Price (SRP) of prime commodities and basic necessities despite successive increases in the price of petroleum and other similar products but admitted that the DTI national office is already seriously considering them./iNews (N. Glenn Aragon/Photo courtesy of Aksyon Radyo and DTI FB pages)
ILOILO CITY–Prices of prime commodities and basic necessities in the city and province of Iloilo remain unchanged despite successive increases in the price of petroleum products lately.
This was confirmed recently by Department of Trade and Industry (DTI)-Iloilo director Felisa Judith Degala based on their monitoring of prices in the market. Monitoring is on a weekly basis for the city and monthly in the case of the province.
To date, she added, the DTI-6 is yet to receive an advisory from the central office relative to an increase in the Suggested Retail Price (SRP) of basic goods, although she admitted that their national office is now seriously considering adjustments in the price of the said goods in the heels of consecutive increases in the pump prices of petroleum and similar products.
Degala said the last time that there were increases in the SRP of prime commodities and basic necessities was in July 2021, or some three months ago.
Meanwhile, Degala clarified that any proposal to changes in the SRP of certain products first goes thru a painstaking and careful process.
She said that proposals for price adjustments start from the manufacturers and are submitted to the National Price Coordinating Council (NPCC), which is composed of representatives from the different agencies of the government.
She added that the NPCC discusses and evaluates the reasons given by the manufacturers and decides whether the proposed SRP changes are to be given due course or not.
Degala said approved changes in product SRP are also not immediately implemented. She said that price adjustments are only reflected as the new SRP 30 days after the NPCC approval. (N. Glenn Aragon/iNews)