Price hike looms in January 2023

Amid the spiraling prices of goods in supermarkets and wet markets 23 days before Christmas, another round of price increases looms for basic and prime commodities in the first month of January 2023.

Trade Secretary Alfredo Pascual, in a press conference Thursday, said the DTI received manufacturers' requests for price increases, particularly 25 percent of the 218 total stock-keeping units or SKUs of various products, affecting 55 SKUs.

SKUs are unique identification numbers that define an item at the identifiable inventory level; for example, in retail applications, the SKU may designate style, size and color.

Included for yet another round of price increases next year are canned sardines, milk, bread, instant noodles, canned meat, laundry soap, salt, soy sauce, toilet soap and candles.

He said price increases range from 10 percent and as high as 30 percent, depending on the products.