DTI Releases Update on Movement of Noche Buena Products’ Prices
The Department of Trade and Industry (DTI) has released the latest movement on prices of noche Buena products.
The agency has issued the list of Noche Buena products that will retain or reduce its prices. DTI Undersecretary Ruth Castelo said that it would guide consumers regarding the current prices of the items amid the COVID-19 pandemic.
DTI is monitoring over 219 shelf-keeping units every Holiday season. About 130 types of grocery products will retain or cut the prices while the prices of other 89 items are set to increase during the Christmas season.
Most Noche Buena items were included on the list of products, which will have a price increase. The increasing prices of raw products triggered surge on prices of grocery items, according to the manufacturers.
Many items will have six to 11 percent increase or P26 to P30 per items including ham products. pasta, tomato sauce, mayonnaise and sandwich spread will either retain or reduce its prices.
Philippine Amalgamated Groceries Association president Steven Cua confirmed the price hike including ham products and fruit cocktail. He did not released suggested retail prices because the consumers have the idea of what to buy for the Holiday season.
Cua is hoping that the number of consumers will increase by December. Some manufacturers are asking for additional price hike. However, DTI chief Ramon Lopez said that no price hike is expected for basic goods this year.
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