DTI sees no price hikes for basic goods despite higher fuel taxes


Posted at Jan 10 2018 11:14 PM

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MANILA - Prices of basic goods will remain within the suggested retail price (SRP) range despite the implementation of excise taxes on fuel, the Department of Trade and Industry said Wednesday. 

Trade Secretary Ramon Lopez said while excise taxes may push up fuel prices and the cost of transporting goods, the effect on prices will be minimal since transportation accounts for just 5 percent of the total cost of goods.

The price of a 155 gram can of sardines and a 25 gram pack of coffee will both rise by P0.04, based on DTI computations.

“So iyung mga pagbabago na P0.04 wala na yan, hindi na pinag-uusapan kaya hindi na ginagalaw ang SRP,” Lopez said.

Lopez said that changes in the SRP are announced 30 days prior to implementation and so far companies have not shown any interest in changing their current retail price.