Some Christmas goodies up by 13%
‘The increase in the prices of basic goods is around 2 percent to as high as 13 percent in certain items’
PHOTO BY AL PADILLA FOR THE DAILY TRIBUNE @tribunephl_al.
Daily Tribune‘The increase in the prices of basic goods is around 2 percent to as high as 13 percent in certain items’
PHOTO BY AL PADILLA FOR THE DAILY TRIBUNE @tribunephl_al.
The cost of essential products in grocery shops has increased by as high as 13 percent, a supermarket group said on Monday, 28 November.
In a television interview, Philippine Amalgamated Supermarkets Association Inc. Steven Cua said that most products seeing price hikes include ready-to-drink beverages, chocolate, jam and peanut butter.
"The increase in the prices of basic goods is around 2 percent to as high as 13 percent in certain items," Cua said,
More than 20 firms have already requested price increases including non-essential commodities, he added.
"Let's assume that manufacturers only want to raise the cost of 20 of their 50–100 products. To avoid losing market share, they were progressively delaying the rise," Cua said in vernacular.
He said customers might choose less expensive versions of the goods during Noche Buena.
Imported fruit cocktail now costs 13 percent more, Cua mentioned. He likewise noted that the price of local versions stayed the same.
The Department of Trade and Industry recently published a pricing guide for Noche Buena items. The list intends to help customers and merchants purchase goods in time for Christmas.
In the Noche Buena pricing guide, there are 223 stock keeping units or product varieties. Of these, 195 had price increases, two had price decreases, and eight had no change in price.
Of the 195 goods that showed an increase, 94 had more than 10 percent, 51 with 6 to 10 percent, and 50 with five percent increase.