Supermarket operators expect price declines
Consumers are maxed out with recent price increases… you can’t raise prices anymore without losing market share. From our end, we can really feel inflation getting slower
Consumers are maxed out with recent price increases… you can’t raise prices anymore without losing market share. From our end, we can really feel inflation getting slower
The Philippine Amalgamated Supermarkets Association, or PAGASA, expects the October inflation numbers to show a decline amid government interventions.
PAGASA president Steven Cua said prices of goods commonly sold in supermarkets were notably stable last month, with select items even seeing price reductions.
He agreed with the Bangko Sentral ng Pilipinas' month-ahead forecast, which predicted headline inflation in October to decelerate to the 5.1 to 5.9 percent range.
This is softer than the country's 6.1 percent inflation figure in September this year, and substantially lower than the 7.7 percent posted in October 2022.
"Consumers are maxed out with recent price increases… you can't raise prices anymore without losing market share. From our end, we can really feel inflation getting slower," Cua said.
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It was also mentioned that President Ferdinand "Bongbong" Marcos Jr.'s Executive Order 39, which mandated price caps on regular- and well-milled rice, also helped moderate price pressures.
The Philippine Statistics Authority is expected to release October's inflation numbers next week.
Shifting habits
Cua noted that changing consumer habits and government policies have caused retailers to lose out on potential sales bonanzas during the back-to-back Barangay and Sangguniang Kabataan Elections and the observation of All Saints' Day.
