The Department of Trade and Industry (DTI) announced that price increases for several commodities have increased as the Department of Trade and Industry approved higher prices for these goods. 

According to the DTI, they approved the hikes since the products had increasing some six years ago.

"Kung titingnan natin, yung mga humihingi ng price increase, huli silang nagtaas nung 2018, talagang justified naman yung hinihingi nilang price increase," DTI Asec. Amanda Nograles of the Consumer Protection Group of DTI said.

Some 9 grocery items had reportedly hiked prices hikes as based on the new suggested retail price list published by the DTI.

"Gusto po natin i assure yung consumers na maliit na porsyento lang ng SRP bulletin ang gagalaw dito sa pagtaas ng presyo," she said.

Meanwhile, some brands of coffee reduced the contents or weight of their packs.

This is what the DTI dubbed as shrinkflation.

Inflation eased to 3.9 percent in December last year after hitting a 14-year high of 8.7 in January 2023.

The Philippine Statistics Authority however also noted that rice prices have been rising.