P1-K Noche Buena doable?

Whether or not P1,000 is enough for a typical Filipino family to enjoy a satisfying Christmas Eve or Noche Buena meal is beyond the Department of Trade and Industry to determine.

Amid the skyrocketing prices of basic commodities, the DTI said it would be up to the individual families to determine how much would be enough to make their Christmas table bountiful.

"That depends on the families. The DTI will not say that this should be the cost of your Noche Buena or that this is okay already," said DTI Undersecretary for Communications Maria Blanca Kim Bernardo-Lokin.

"I think the responsibility of the DTI is more than determining what the cost of a Filipino family's noche buena should be. We are here to let consumers know the price ranges and the best options for products that fit their budget," she said.

Lokin clarified during her guest appearance on DAILY TRIBUNE's digital show Straight Talk on Wednesday.

She assured that with the DTI monitoring the prices of commodities, Filipinos are assured of getting the "same ham, cheese and spaghetti" as the department is guarding against price gouging.

Stretch that budget

In a separate interview, Noveliza Diwata, an employee of the Paltok Credit Cooperative in Quezon City and a mother of three, pointed out that a P1,000 budget for Noche Buena could be stretched.

She noted that a "satisfying" Noche Buena may cost up to P3,000, but the difference between the P1,000 and P3,000 may be bridged with gifts and giveaways.

"The prices of pork, rice, oil, ingredients, and other Noche Buena items are skyrocketing nowadays. I think it's a good thing that companies are giving away ham and spaghetti packages during the holidays," she said in Filipino and English. "The expenses get cut a little."

From 4 to 8 December, the Department of Agriculture monitored the average prices of well-milled imported commercial rice at P51.60 per kilo, with the local counterpart at P50/kilo.

On the other hand, a kilo of pork kasim (ham) was at P304, while pork belly was at P349. The DA monitored the price of fully dressed chicken at P178.

The Philippine Statistics Authority reported last week that inflation in November further eased to 4.1 percent from 4.9 percent in October, following the further deceleration of food and non-food prices during the month. The year-to-date inflation rate stands at 6.2 percent.

Stabilization strategies

On the other hand, the National Economic and Development Authority maintained that the further drop in the inflation rate could be attributed to the timely implementation of strategies to stabilize food supplies.

The strategies had been put in place, it said, amid the anticipated domestic and external headwinds in the coming months.

Lokin said violators of the released Noche Buena Price Guide will not be subjected to sanctions, but only those manufacturers and retailers imposing higher prices than the suggested retail prices for basic necessities and prime commodities.

The DTI regulates the prices of BNPCs under Republic Act 7581 or the Price Act. "The commodities that are the subject of the price guide are Noche Buena products that do not belong in our BNPC," she said.

"The special focus is only on the BNPC. And based on our monitoring, most retailers and manufacturers are compliant because almost all manufacturers had agreed to the price guide," she added.

The DTI Fair Trade and Enforcement Bureau, she said, is very strict in enforcing the SRP for BNPC to prevent profiteering by retailers from those products.

"Profiteering is defined by law as the SRP plus 10 percent," Lokin said, warning that such practices are punishable under the law.

On 11 December, Trade Secretary Alfredo Pascual called a meeting with the manufacturers of goods associated with Noche Buena, like cheese balls (queso de bola), fruit cocktails, ham, thick cream and mayonnaise.

This, after the prices of the products reportedly skyrocketed. Their manufacturers told the DTI they would check the prices with their retailers.