The government’s price guide for noche buena products is expected to be issued this week, says Trade Undersecretary Maria Blanca Kim Bernardo-Lokin, amid pending price hike petitions for holiday ham that could go up by as much as 4 percent.
“[It will be out] by the second week of November because not all of the manufacturers have submitted their positions and prices,” says Bernardo-Lokin.
She adds that about 80 percent of the manufacturers that produce goods included in their yearly noche buena price guide have submitted their position so far.
On whether the public should expect an increase in the price of food staples this holiday season, Bernardo-Lokin says she was able to get support from the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) to hold off on price hikes this year.
FFCCCII members include local retailers, merchant associations and food manufacturers.
Meat producers are asking for a 4-percent price increase due to rising production costs.
Last year, some ingredients for spaghetti and fruit salad—two among the many popular Christmas staples in the Philippines, saw their price increase in the run-up to the holidays.
Based on the DTI price guide last year, the least expensive brand of an 800-gram spaghetti pasta was priced at P69 at local markets or P10 more than in the previous year.