Prices for some Christmas Eve dinner foods expected to rise 4-8%
THE PRICE of some foods typically consumed on Christmas Eve may rise between 4% and 8%, according to the Philippine Amalgamated Supermarkets Association (Pagasa).
Pagasa President Steven T. Cua said in a television interview Thursday that selected foods for Christmas Eve dinner, known as “Noche Buena” could see price increases of up to P2 depending on the size of the product.
“We have to plan what we need to buy so that we can meet our budget. Always have a list of things to buy. Consumers can stick to a budget,” Mr. Cua said.
According to Mr. Cua, price increases for such foods will need to be carefully managed because they will affect the entire supply chain. In terms of volume, however, he expects supply to be sufficient because of weak demand.
“As long as people have money, either from ayuda (cash aid), remittances, or 13th month pay, they will buy groceries and Noche Buena items,” Mr. Cua said.
The Department of Trade and Industry (DTI) has said that only four of 11 Noche Buena product categories that it tracks are covered by active price hike petitions, including ham, tomato sauce, pasta, and cream.
The DTI said no such applications were submitted for fruit cocktail, cheese, sandwich spread, mayonnaise, the variety of Edam cheese known as keso de bola, spaghetti, and macaroni. — Revin Mikhael D. Ochave