MANILA - The Department of Trade and Industry said Tuesday it has approved a P2 increase in the price of branded loaf bread.
The movement is due to the price hike of bread ingredients like flour and sugar, as well as the foreign exchange rate, said DTI Consumer Protection Advocacy Bureau director Dominic Tolentino.
The P2 price hike does not cover pandesal and the low-cost Pinoy Tasty and Pinoy Pandesal, he said.
He also denied that regulators tried to keep the price hike secret.
"Alam naman nila (consumer groups) dati pa na magkakaroon ng kaunting pagtaas," he told radio DZMM.
(They knew beforehand that there will be a slight increase.)
Laban Konsyumer president Vic Dimagiba claimed that he was surprised after noticing that the price of a leading loaf bread brand rose to P64 from P62 per 600-gram pack.
There was no announcement about the increase and the DTI has yet to reply to his inquiries about it, he said in a separate DZMM interview.
He noted that millers last month said there will be no price increase for wheat.
The government also secured a promise from manufacturers to defer possible price movements until the year end, said Dimagiba, who is a former DTI undersecretary.
DZMM, 20 November 2018