CONSUMERS will have to spend more this upcoming holidays as prices of over 150 Noche Buena products saw increases from last year, according to the Noche Buena Price Guide released by the Department of Trade and Industry (DTI) on Tuesday, Nov. 21, 2023.
The price guide showed that prices of 152 out of 240 stock-keeping units (SKUs) of Noche Buena products have increased from last year, with increases ranging from P1 to P49, as suggested by manufacturers to retailers.
The price guide covers products like ham, fruit cocktails, cheese, queso de bola, mayonnaise, all-purpose cream, pasta and spaghetti sauce. It is effective until Dec. 31.
In an interview on Wednesday, Nov. 22, Ines Cajegas, chief trade industry development specialist of DTI-Cebu’s Consumer Protection Division, attributed the price increases to the increasing cost in both locally sourced and imported raw materials used in production, as well as the increasing cost of logistics.
Of the 240 SKUs, prices for 83 SKUs have increased by one to five percent; 37 SKUs increased by five to 10 percent; and 32 SKUs increased by more than 10 percent.
The trade official, however, said that 21 SKUs registered price reductions, and prices of 34 SKUs remained unchanged.
Depending on the size, hams can be bought for as low as P169 (500g) to 898.50 (1.5kg), while prices of fruit cocktails, depending on the size, range from P57.72 (432g) to P293.86 (3.06kg). Prices of cheese also range from P56.50 (160g) to P420 (900g), while prices of Keso de Bola range from P211.50 (300g) to P435 (750g).
Prices of mayonnaise range from P24.70 (80ml sachet) to P193.75 (700 ml jar); sandwich spread range from P29.50 (60g sachet) to P263.60 (470 ml jar); pasta/spaghetti from P30.94 (175g) to P105 (a kilo); elbow macaroni from P23 (200g) to P124 (a kilo); salad macaroni from P36.50 (200g) to P123 (a kilo); spaghetti sauce from P39.50 (200g) to P103 (a kilo); tomato sauce from P15.50 (115g) to P92.25 (a kilo); and all purpose cream from P36.50 (110 ml) to P59.95 (410ml).
Edrine Durante, a 24-year-old researcher and breadwinner, said that while the individual price hike per product may seem small, the combined impact will be burdensome over time. She emphasized that the notable price hikes affect her, given the already elevated cost of living.
But to still celebrate Christmas and have something to share with her family come Christmas Eve, Durante said she’ll opt to choose affordable brands of goods to save money.
Consumer tips
The DTI advised consumers to exercise comparison shopping and to check the labels such as the expiry date and price tag of the products before purchasing. It also urged consumers to inspect the quality of the products to avoid counterfeit Noche Buena items and to buy only from trusted stores.
Meanwhile, prior to releasing the price guide, Cajegas said a dialogue took place between the DTI and product manufacturers from different parts of the country on Nov. 7, to ensure that prices would remain stable until New Year’s Eve on Dec. 31.
However, she clarified that the price guide is not meant to be treated as a suggested retail price, since Noche Buena items are not considered basic goods or prime commodities, as stated under Republic Act (RA) 75181 or The Price Act, as Amended by RA 10623.
She said that as cited in the law, only the prices of milk, coffee, canned goods, such as sardines and corned beef, candles, and bottled water, are regulated by the agency. She said that the guide aims to help consumers in their grocery shopping, “to ensure that consumers are aware what are the available products in the market and at what prices, and to help them to make a discerning choice.” / KJF WITH KOC