Prices of noche buena items going up – DTI
Prices of noche buena (Christmas Eve meal) items are expected to be higher by at least three to eight percent this coming holiday season compared to last year, the Department of Trade and Industry (DTI) said yesterday.
Trade Undersecretary Ruth Castelo said manufacturers of noche buena products have informed the DTI about the price increases, but the department will study whether the hikes are warranted.
She said an eight percent
uptick on prices will be too high.
“Of course there is an evaluation process. If the increase is too big and not justified because the raw materials, we would know if prices of those also increased or not. But of course, we’ll have to consider the causes of price increases for 2018. After we consider everything, we’ll come up with SRP (suggested retail price),” she said.
Prices of goods this year have increased amid higher fuel prices.
The list of SRPs approved by the DTI would serve as guide for both consumers and manufacturers.
Castelo said the DTI expects to come up with the noche buena package by Oct. 15.
Noche buena items are those purchased by Filipinos for their Christmas Eve celebrations. These include products such as ham, mayonnaise, fruit cocktail, tomato sauce, spaghetti and elbow macaroni.
While manufacturers of basic necessities and prime commodities have vowed not to raise prices for three months starting Sept. 1, Castelo said those looking to increase prices after the three-month hold off period are expected to submit to the DTI their planned price hikes before Dec. 1.
“Before Dec. 1, they can submit to DTI then, we will start studying, evaluating documents,” she said.
Basic necessities cover canned sardines, milk, coffee, bread, instant noodles, salt, detergent soap, bottled water and candles, while counted as prime commodities are luncheon meat, meat loaf, corned beef, beef loaf, condiments like vinegar, fish sauce (patis) and soy sauce, as well as toilet soap and batteries.
The DTI sought the cooperation of manufacturers of basic goods not to raise prices as part of measures to help keep prices and supply of commodities in check given the high inflation rate.
Price freeze
In San Fernando, Pampanga, DTI regional director Judith Angeles said a price freeze has been implemented not only in specific areas seriously hit by Typhoon Ompong but in the entire four regions affected by the weather disturbance.
Angeles said President Duterte has issued Proclamation No. 593 enforcing prize freeze in Central Luzon, Ilocos, Cagayan and Cordillera regions “to hasten the rescue, recovery, relief and rehabilitation efforts of the government and the private sector in light of the damage caused by Typhoon Ompong.”
The price freeze covers all basic goods and prime commodities as classified by the DTI, the Philippine Information Agency (PIA) here said.
Angeles said the price freeze is covered by Republic Act 7581, otherwise known as the Price Act, covering a period not less than 90 days or until the President lifts the proclamation.
Prices of basic goods and prime commodities are held at prevailing prices, or the average price for the present month, Angeles said.
“Our regional and provincial offices are continuously and regularly monitoring public markets, groceries, supermarkets and stores to ensure the steady supply of basic goods and stable prices,” she added.
Violations including hoarding, profiteering and cartel practices are punishable by law, with a maximum penalty of P1 million and imprisonment of up to 15 years, Angeles warned.