DTI reports slight increase in prices in July

MANILA, Philippines - Prevailing prices of coffee, detergent and laundry soap, and basic condiments slightly increased, based on the latest price monitoring report of the Department of Trade and Industry (DTI).

The price of Great Taste Coffee Premium and granules (25g) increased by P0.10, while Nescafe Classic (25g) added P0.20. Despite the increase, the two brands are still under the suggested retail price set by DTI.

Detergent soap brand Surf (390g) also added P1- P1.10 from its price set last June, while bath soap Safeguard increased its price by 10.52 percent, from P23.30 to P25.75 for the 90g soap.

Major condiments brand Datu Puti and Silver Swan also registered P0.10- P0.35 increase for their 350ml soy sauce, vinegar and fish sauce products.

Bread products, on the other hand, slashed its prices by P0.50 for the 450g Pinoy Tasty, and P0.25 for the 250g Pinoy Pandesal.

Prices for majority of other basic commodities like processed milk, instant noodles and canned goods remained the same.

For agricultural products, the price of rice is stable at P27 for the regular milled NFA rice and P32 for the well-milled NFA rice. Likewise, meat, fish, poultry and fruit products recorded no significant increase.

Meanwhile, vegetables had the biggest increase ranging from 20-to 100-percent additional price for products like cabbage, eggplant, okra and carrots.

DTI regularly conducts price monitoring and market activities to ensure that basic goods and commodities are being sold in compliance with SRPs mandated by Republic Act 7581 or the Price Act.

Companies who engage in illegal pricing may face penalties and administrative fines.

Consumers can visit the DTI website for a more detailed prices and SRPs of basic goods and commodities.