Makati City, Philippines - The Department of Trade and Industry-Consumer Protection Group (DTI-CPG) is set to release a Noche Buena price guide on Wednesday, revealing noticeable price increases in over 150 shelf keeping units (SKUs) ahead of the holiday season.
According to Philippines News Agency, Assistant Secretary Amanda Marie Nograles, during a press conference in Makati City on Tuesday, detailed the changes in the Noche Buena items' prices. Out of 240 SKUs, 83 items have minimal price increases ranging from 1 to 5 percent; 37 SKUs experienced a 6 to 10 percent price hike; and 32 SKUs saw their prices rise by more than 10 percent. Nograles attributed these increases to various factors, including the rising costs of raw materials, packaging, labor, power, and distribution, as reported by the manufacturers.
Keso de bola, a traditional Filipino holiday cheese, witnessed the largest price increase in this year's guide, with prices approximately PHP49 higher than last year. However, it's not all price hikes; 34 SKUs maintained their previous prices, and 21 items saw a decrease in costs.
DTI Secretary Alfredo Pascual emphasized that the Noche Buena price guide differs from the agency's suggested retail price (SRP) bulletin. The guide aims to assist consumers in making informed decisions when purchasing brands, especially as the items listed are not considered basic necessities or prime commodities under the Price Act.
The Noche Buena price guide includes a variety of products such as ham, fruit cocktail, cheese, keso de bola, mayonnaise, sandwich spread, pasta, spaghetti, macaroni, spaghetti sauce, tomato sauce, and creamer. Pascual explained that if retailers are found selling items higher than the manufacturers' suggested retail prices, the DTI will notify the manufacturers to address these discrepancies. This approach differs from the direct actions typically taken under the SRP protocol.
In addition, DTI officials have advised consumers to carefully check the expiry dates and price tags of Noche Buena products. The DTI-Regional Operations Group will assist in monitoring retailers' compliance with the Noche Buena price guide, ensuring that holiday shoppers receive fair pricing during this festive season.