Connect with us

Hi, what are you looking for?


AmCham hoping for more regular SRP bulletin releases

A supermarket is seen in Quezon City, March 4 2022. — PHILIPPINE STAR/ MICHAEL VARCAS

THE American Chamber of Commerce of the Philippines (AmCham) said it is counting on the Department of Trade and Industry (DTI) to more regularly publish its updated suggested retail price (SRP) bulletins, following the latest edition issued on Feb. 8.

“We have a good working relationship with them (the DTI), so I am certain they will be more regular in issuing the SRP. Maybe not on the exact frequency but certainly more regular,” AmCham Executive Director Ebb Hinchliffe told BusinessWorld via Viber.

In January, AmCham urged the DTI to publish SRP bulletins for basic necessities and prime commodities (BNPCs) on a regular basis, saying that it would help the business chamber’s member companies plan their operations and finances.  

“This will ultimately help businesses stay afloat and continue to provide jobs and quality products,” the group said.

Mr. Hinchliffe said that the DTI’s new SRP bulletin will likely have an impact on inflation.

“I am glad to see the DTI releasing a new bulletin. With (the) January 8.7% inflation rate, most of the (price) increases (in SRP bulletin) can be justified. However, it may fuel inflation even further,” Mr. Hinchliffe said.  

“Employees will expect high wages to offset the higher cost but higher wages without increases in production are inflationary. (It’s a) vicious cycle,” he added.

The Philippine Statistics Authority reported on Feb. 7 that headline inflation rose to 8.7% in January against year-earlier level of 3%, on the back of higher prices of rent, electricity, water, vegetables, milk, eggs, fruit, and nuts.  

On Feb. 8, the DTI’s new SRP bulletin authorized price hikes of between 45 centavos and P7 for 76 stock keeping units (SKUs), while holding steady the recommended prices for 141 SKUs. The last SRP bulletin was issued in August.

The SKUs allowed to raise prices increases include canned sardines in tomato sauce, processed milk, coffee 3-in-1 original, noodles, bread, detergent soap, canned meat, candles, and condiments.

According to Trade Undersecretary Ruth B. Castelo, price increases in the new SRP bulletin were justified by external factors such as the high cost of raw materials, packaging materials, logistics, and transportation.

“The DTI assures the public that price adjustments were carefully studied and kept to a minimum to ensure that affordable goods are still available in the market. Further, we also regularly monitor the price movements of raw materials of these BNPCs, and continuously monitor retailers to ensure that the prices of BNPCs are reasonable,” Ms. Castelo said. — Revin Mikhael D. Ochave

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The Independent Electricity Market Operator of the Philippines (IEMOP) is holding a big conference, the Philippine Electric Power Industry Forum (PEPIF) 2023, with the...


TIM MOSSHOLDER-UNSPLASH TECHNOLOGY is moving at lightning speed. In my lifetime alone, the world as we know it has orbited into a completely different...


A man wearing a protective mask is reflected on an electronic board displaying various companies’ stock prices outside a brokerage in Tokyo, Japan, Feb....


KREMLIN.RU/EVENTS/PRESIDENT/NEWS/60363/PHOTOS-COMMONS.WIKIMEDIA.ORG SEOUL — North Korean leader Kim Jong Un has overseen drills simulating a nuclear counterattack against the US and South Korea in a...


RAGHAVENDRA V KONKATHI-UNSPLASH LONDON — Some of the world’s leading makers of flu vaccines say they could make hundreds of millions of bird flu...


BW FILE PHOTO Productivity and customer experience management tools are the most sought-after tools among companies in the Philippines, with businesses of all sizes...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.