The Tax Reform for Acceleration and Inclusion Act (TRAIN) law is indeed a factor behind the higher prices of school supplies for the coming school year, the Department of Trade and Industry admitted.
DTI Pangasinan provincial director Engr. Peter Mangabat noted the prices of most school supplies in the province have increased by 30 percent.
“(The TRAIN) law is one of the reasons as there is an additional excise tax in raw materials, so it is given that the prices of finished products will increase. The high price of crude oil is also another factor,” he said (Prices of school supplies in Pangasinan up by 30%).
He cited the suggested retail prices for notebooks, priced at P11 last year, now stand at P15.
He encouraged consumers to report establishments selling overpriced school items, which do not conform to their SRP.
“It would be wise if consumers would visit dti.gov.ph to check the suggested retail price of school supplies,” he said.
But Mangabat added the price adjustment may also be partly due to rising demand.
“As long as it does not exceed the SRP that DTI has set, then everything is good,” he said.
Meanwhile, the DTI has scheduled a Diskwento Caravan in Anda town on May 25.
“School supplies and other goods will be sold at relatively low prices,” he said.