Prices bread products are expected to increase with the higher cost of wheat in the world market, which prompted Malacañang to order the Department of Trade and Industry (DTI) to find ways to keep bread prices stable. (Photo by KJ ROSALES)

The Department of Trade and Industry has been ordered to keep the price of bread stable amid plans by some bakers to raise prices next month, a Palace official said Monday.

Deputy Presidential Spokesman Gary Olivar said the government is concerned the planned increase in bread prices may not be warranted at this time and directed the department to ensure price stability.

He said the trade department is already looking at the reasons behind the imminent price adjustments of loaf bread and pandesal, a main staple for poor Filipinos, despite the recent lifting of tariffs on flour.

“They have already come out with a suggested retail price for bread, so that’s going to be one of the measures that have been put in place by the DTI,” he said in a news conference.

“The concern does not seem to be enough reason to warrant the increase in prices of these commodities.

This is something they have been looking into,” he added.

Reports said a group of bakers are planning to increase the price of loaf bread by P1.50 and a pack of 10 pandesal by 75 centavos next month due to the rising cost of ingredients such as flour, eggs and dairy products, as well as diesel.

While monitoring bread prices, Olivar said trade authorities are also studying the possibility of extending the lifting of tariffs on flour.

“You would expect that with the lifting of tariffs, you would be seeing price improvements, but that does not seem to be happening enough yet, so the DTI is looking into it before taking more action,” Olivar added.

The government earlier suspended the 3 percent tariff on cement and wheat sourced from Southeast Asia and the 5 percent levied on those imported from elsewhere for six months, supposedly to deter price increases. The presidential directives are expected to expire this week.