PREPARE your wallets.

The Department of Trade and Industry (DTI) said that they had approved an increase in prices of soap, canned sardines, and powdered milk.

According to a statement from the DTI, the price of toilet or bath soap will increase by P1 to P4; canned sardines by P2 to P3.59; and powdered milk by P3.5 to P6.

Likewise, the DTI said aside from the said products, they are also looking at the proposal of several manufacturers to increase the prices of bottled water, instant noodles, bread, and other canned products including corned beef and meat loaf, as well as candles and batteries.

It stated that with the proposal, milk will increase by P3.50 to P6.00; bread by P2.00 to P2.50; instant noodles by P0.30 to P1.75; bottled water by P1.00 to P6.00; processed canned meat by P6.00 to P33.00; condiments by P0.60 to P0.65; candle by P6.00 to P30.00; and battery by up to P10.00.

The said increase in basic commodities have been anticipated earlier in the year.

Likewise, the DTI said manufacturers had already asked for price increases as early as 2022 but were just asked to defer the implementation.

The price adjustments will be published through the e-Presyo.

Meanwhile, the DTI and canned sardine manufacturers said that they are studying the possibility of launching "low-budget" canned sardines or "pinoy sardines" as a cheaper alternative in the market.

"Isa yan sa mga proposal natin para magkaroon pa rin tayo ng standardized, de kalidad pero abot-kaya na presyo na produkto. Sa kasalukuyan meron yan sa tinapay kaya meron tayong pinoy tasty at pinoy pandesal," DTI Assistant Secretary Amanda Nograles said.