DTI price guide shows majority of 'noche buena' items rose by 1% to 5%

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Metro Manila (CNN Philippines, November 21)— Manufacturers raised the prices of majority of 240 Christmas meal items by 1% to 5% ahead of the holidays, while prices in other goods rose by over 10%, the Department of Trade and Industry (DTI) said on Tuesday.

The trade officials said the increase is amid the higher prices and other input costs like tin cans.

In a press conference in Makati City, the DTI said consumers can expect cheese, ham, and spreads to be more expensive.

The 'noche buena' price guide will be published in two newspapers on Wednesday.

"Ang pinakamalaking nag-increase na product ay ang cheese, which increased by 49 pesos," Trade Assistant Secretary Amanda Nograles said.

"Then the others that increased po, sandwich spread, ham, fruit cocktail, keso de bola, mayonnaise," she added. "Makikita po tomorrow,"

[Translation: The biggest increasing product is cheese, which increased by 49 pesos. Then the other items that increased too are sandwich spread, ham, fruit cocktail, keso de bola, mayonnaise. We'll see tomorrow.]

The price guide covers 240 stockkeeping units (SKUs), more than last year's around 220.

"Eighty-three SKUs increased by 1% to 5%. Thirty-seven SKUs increased by 6% to 10%. Thirty-two SKUs increased by more than 10%. And of the total SKUs that increased, the majority are those that increased 1% to 5%," Nograles said.

The noche buena price guide was separate from the suggested retail price (SRP) bulletin.

The latter covered basic necessities and prime commodities like sugar, milk, coffee and eggs.

Trade officials said manufacturers earlier sought upward price adjustments for 63 SKUs covered by the SRP, but the regulator has yet to reconvene a meeting with them as some have withdrawn their petition.

The DTI last adjusted the SRP in February.

"This is not SRP. That's why we call this 2023 noche buena price guide. This is really a guide for consumers to decide what brand to buy," Trade Secretary Alfredo Pascual said.

"Iba-iba reason nila," Pascual explained. "Kamukha sa sardines, yung suplay ng tamban. Local supply is falling short. Tapos yung canned producers, cost of tin cans tumataas. Yung iba naman transportation cost tumaas ang gasoline price."

[Translation: The manufacturers have different reasons. For example, prices of sardines increased due to the supply. Local supply is falling short. Then for canned producers, the cost of tin cans increases. Other transportation costs also increased gasoline prices.]