Monday, September 22, 2008 DTI: Brace for higher food prices this Christmas By Ian Ocampo Flora
CITY OF SAN FERNANDO -- With only 95 days before Christmas, the Central Luzon office of the Department of Trade and Industry (DTI) is advising consumers in the region to anticipate the rise in the prices of basic and prime commodities on and before the Yuletide season.
The inflation rate that affects the prices of goods was registered at a 17-year record high of 12.5 percent in Metro Manila and 14.2 percent in areas outside the National Capital Region.
DTI Regional Director Blesila Lantayona said Sunday that prices of food stuffs will surely rise as Christmas approaches.
"We all know that prices of chicken, canned goods, and other food items will increase," Lantayona said, adding that despite the annual surge in prices, there should be no reason for price increase with the available supply in the market.
She however said they will be monitoring the prices. "We are going to monitor them and if they increase their prices without any reason, we will take appropriate actions."
The region has a stable supply of basic commodities and consumers should take advantage of the situation, added Lantayona.
Lantayona advises consumers to shop early for non-food stuffs like Christmas, decorations, and other items.
She also urged local consumers to be vigilant in monitoring the prices of basic commodities for unscrupulous merchants who might take advantage of pricing despite available supply.
Meanwhile, the DTI said prices of crude oil also have a direct effect on the prices of goods in the market in terms of manufacturing and distribution costs.
Prices of other foodstuffs have also been rising due to related production requirements.
Some canned goods for example now cost P0.35 to P0.40 higher due to the rise in the price of tin plate in the world market, the DTI official said.
DTI Undersecretary Zenaida Maglaya also said the prices of canned sardines, corned beef, and meat loaf went up because tin plate prices in the world market have been rising since April due to high demand.
Several groups, including those from transport, youth, and church, have recently called on the government to review the expanded value-added tax (VAT) and the Oil Deregulation Law to help ease the effects of the global fuel and food crises, especially that the Christmas season is just around the corner.
