DAVAO CITY — Department of Trade and Industry (DTI) Secretary Ramon M. Lopez conducted a special price monitoring yesterday in two groceries in this city, checking if suggested retail prices (SRPs) of goods have gone up.
Mr. Lopez said he was surprised to find out that no cost movements were reported and that prices in two groceries he visited — Park and Shop in Victoria Plaza and Gaisano Mall of Davao — remain below SRP.
“I was surprised because prices of milk was sold P2.50 below the SRP of P54 and that condensed milk in cans were sold at P14.50 or P13.50 which is a good development,” he said in Filipino during an interview.
Products monitored in two groceries were sardines, processed milk, condensed milk, evaporated milk, coffee, bread, instant noodles, and laundry soap.
However, prices of softdrinks have already moved since specified excise taxes have already been imposed on these products.
On January 15, prices of softdrinks are expected to rise, Mr. Lopez said, citing the newly-implemented TRAIN Law or Tax Reform Acceleration and Inclusion Law, which doesn’t cover convenience or sari-sari stores.
“Department stores, groceries, and supermarkets are committed to follow the SRP,” he said, adding that consumers need not worry about price adjustments.
He also advised the consumers to check the prices in the grocery or supermarkets.
Lopez also assured that the DTI is checking if prices of products are being adjusted simultaneously. — Maya M. Padillo