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Facebook: Laban Konsyumer Inc.
Website : www.labankonsyumer.com
20th Press Statement
May 6, 2019
LABAN KONSYUMER INC. CHALLENGES DTI TO IMPLEMENT ITS 1ST EVER
ROLLBACKS OR RELIEFS FROM MULTIPLE INCREASES IN SUGGESTED
RETAIL PRICES OF BASIC NECESSITIES AND PRIME COMMODITIES UNDER
THE CURRENT ADMINISTRATION AMIDST THE CONTINUING DECLINE OF INFLATION
In light of the continuing decline of inflation for the 1st four months of the year, Laban Konsyumer Inc. criticized and challenged DTI, as the group asks “once again there are increases in the SRPs of basic necessities and prime commodities . will there ever be any rollbacks in the near future? We want to enjoy rollbacks now.“
Vic Dimagiba, LKI President , stated “the government has to get their acts together and when can we expect a rollback in the prices of basic necesseties and prime commodities from the DTI, when there have already been four months of the declining inflation. I believe that by now, we should already be enjoying rollbacks in SRPs of basic necesseities and prime commodities because of the low inflation.”
In their statement, LKI pointed out that “the rising prices simply do not make sense. inflation has been going down and within target, but why are BNPC prices continuing to go up. Some basic goods like rice, fish, vegetable , chicken and pork have already gone down or hardly move, but manufactured and processed BNPC are consitently adjusted upwards. It is questionable and fishy that BNPC SRPs continue to go up despite this current environment in inflation. Shall there be rollbacks in the future? That is the question we must all be asking ourselves the regulator.”
Dimagiba pointed out that in the published SRP as of May 4, 2019, “14 SKUs of sardines went up again ranging from Php 0.50 to Php 1.70 per 155 gm can, there are 11 new SKUs of iodized salt and rock salt while 4 skus of iodized salt had SRP increases from Php 0.35 to Php 0.90 per piece, 6 SKUs of bottled water inreased their prices by Php 1.00 to Php 4.00, 5 SKUs of condiments also rose in price from Php 0.35 to Php 0.90 a piece, as well as toilet soap by Php 0.30 followed by 1 SKU of noodle increased its price by Php 0.45 “.
LKI said that these price increases are analyzed from as of May 4, 2019, and since inflation has been going lower especially since April, we should already see prices of such products to move downward.
Ironically, while customers of Manila Water and Maynilad are still experiencing substantial reduction in water supply, yet the DTI approved an increase of Php 1,00 per 500 ml of the Wilkin brand . LKI felt that this action is setting the stage for more increases in the prices of bottled water of the other brands.
“The headline inflation at the national level continued to exhibit a slower pace of 3.3 percent in March 2019. This is the lowest inflation since January 2018. Inflation or the increase in the prices of goods eased further to 3.3% in March, the Philippine Statistics Authority (PSA) announced on Friday, April 5. The latest figure sits comfortably within the target range of 2% to 4%. It is also the lowest inflation rate since January 2018. The year-to-date average is now also within the target band at 3.8%. All this information and data leads us to analyse that we should be seeing rollbacks immediately. (The inflation data can be modified as the PSA releases the April, 2019 inflation data)
We challenge DTI to implement its 1st ever rollbacks of SRPs of manufactured and processed BNPC under the current administration .
For any inquiries or concerns, you may reach LKI President Vic Dimagiba at firstname.lastname@example.org