Noche Buena prices go up during holidays

You may have to rethink your menu if you plan to serve fruit salad, leche flan, and halo-halo for Christmas and New Year's Day celebrations. A business-to-business platform Packworks Sari IQ study showed that milk prices, cooking oil, milk and cream usually spike during the holiday season.

Andres Montiel, chief data officer of Packworks, said consumers are already feeling the squeeze of the rising cost of living. An increase in the price of holiday staples is another stressor.

"The price increase is because culinary milk and creams are normally imported from other countries. The increasing dollar rate over the peso affects the commodity prices since these are imported," Montiel said.

The price of milk and cream went up by 11.84 percent. A 250-milliliter pack of purpose cream, 300-milliliter pack of condensed milk, and 370-milliliter pack of evaporated milk now cost P10 to P15 more than the previous price.

Prices of palm, vegetable, and canola oils soared by 5.95 percent and are now being sold for approximately P80 more per liter, while prices of spreads such as mayonnaise and peanut butter increased by 5.77 percent and now cost P40 more per kilo. Dairy products like cheese, margarine, and chilled ice cream got 5.28 percent more expensive at around P30.

Canned goods also grew costlier by 5.26 percent. Prices of canned nata de coco, whole and cream-style corn, kaong, pineapple chunks and fruit cocktails jumped by eight pesos to P20. Other canned products such as corned beef, tuna, meatloaf and sardines rose by five pesos.

These items are often staples of households looking to whip up a quick recipe for their holiday feasts.

"These prices could go up further through 'ber' months, and the demand will be higher. Our local households may be able to skimp on other items, such as clothing or gas, but they have to eat," he added.

What got more expensive

The result has been steadily higher prices in sari-sari stores since January of this year due to inflation.

The cost of frozen processed food jumped 4.90 percent. Packed hotdogs, hams, and nuggets are sold for P25 more than the suggested retail price.

Prices for other goods also jumped: Tea and 3-in-1 coffee mixes rose 4.13 percent; snacks like candies and biscuits, as well as fruits and vegetables, increased 2.50 percent, while powdered milk and chocolate drinks are up by 2.04 percent.