Prices of noche buena goods to go up slightly
The Department of Trade and Industry has warned consumers that there might be a slight increase in prices of noche buena or Christmas goods during the upcoming holiday season.
DTI Central Visayas regional director Asteria Caberte said the weakening peso is likely to affect the prices of noche buena goods particularly those with imported materials.
"That's we will continue to monitor the prices of these goods," she said in a recent interview.
"If there will be an increase, it will be just a slight increase," the trade official said.
Earlier, DTI reported that at least two brands of sardines increased in prices due to the rise in prices of major components in sardine production such as "tamban" fish and tin cans.
Prices of some grocery items also increased such as canned meat, milk products, and bath and laundry soaps.
The DTI is yet to release the suggested retail price (SRP) list for noche buena products when the holiday season nears.
Noche buena goods include ham, fruit cocktail, cheese, sandwich spread, mayonnaise, queso de bola, pasta/spaghetti, elbow and salad macaroni, spaghetti sauce, tomato sauce and creamer.
Earlier, Philippine Retailers AssociationCebu President Robert Go said retail sales are seen to pick up in the weeks to come through the December rush.
"Projection for retail sales will be high for the ber months," Go said.
Christmas is usually the busiest time for retailers as demand usually doubles or more.
Go, owner of Cebu-based supermarket chain Prince Retail, also said retailers expect retail sales to pick up by November — but it could start to increase as early as September or October — when Christmas preparations starts.
Sales of noche buena goods during the peak Christmas shopping usually reach threefold or even higher, as they don't usually sell in ordinary months.
Holiday spending peaks during the last week of November through the month of December.
Meanwhile, consumers are told to check the expiry date and price tag of products before buying them, ensure that shelf price and cashier price are the same and compare weights of competing brands.
The SRP for noche buena applies nationwide both to supermarkets and wet markets, unless specified.