MANILA -- The Department of Trade and Industry (DTI) is set to publish the new suggested retail price of 62 basic goods after its price increase was finally approved by government.

The prices of canned sardines, canned meat, milk, bread and some other basic goods will increase between 2 percent to 9 percent.

The cost of  Pinoy Tasty will go up by P3.50, which means the price will go up to P44 from from that the current P40.50.

The price of Pinoy pandesal, on the other hand, will climb to P27.25 from the current P25 for a 10-piece pack.

Trade Undersecretary Agaton Uvero noted that only 62 items were allowed price hikes, when there are 217 basic and prime commodities being monitored by DTI. 

Uvero said the new SRP will be published within the week, after some manufacturers asked what happened to an earlier announcement that the price hikes would take effect on February 1.

The official said there is no more pending request for SRP adjustment among manufacturers of basic and prime commodities.

BAKERS AND SARDINE MAKERS

The Philippine Bakers Association said breadmakers have been waiting for the P5 increase in Pinoy Tasty and Pinoy Pandesal for almost 2 years.

Prices of raw materials have risen, according to the group, so many members have reduced its production of the popular tasty and pandesal to save on cost.

Sardine makers, meanwhile, claim that even if prices of some sardine brands have been allowed to increase, it is still not enough to cover rising costs of raw materials and tin cans.