IN the hustle and bustle of the Holiday season, there are a lot of things to ponder; from selecting gifts to planning the Noche Buena feast. Practically, it is also essential to prepare your finances as prices of goods are expected to increase during the holidays.
If you have been to the market recently, you might have noticed the increase in prices of goods and products that you usually purchase.
Rising prices of goods during the Holiday season
Despite the countless sale banners and discounts swamping every corner as you stroll around malls, a different scenario can be observed in supermarkets and wet markets.
“Interestingly, I've seen a noticeable price increase for some meat products and items used in Noche Buena,” Joyce Angeles shared in an interview with SunStar Davao.
She also said, “The increase in prices over the holiday season is unsettling, particularly in light of the already high prices resulting from inflation earlier in the year.”
The escalating prices have prompted her to realign their budget, leading to adjustments in both purchasing decisions and the exploration of alternative options.
To navigate the heightened costs, one effective strategy she used was procuring ingredients and supplies well in advance, preempting the holiday rush by making purchases in October and November.
Undoubtedly, the current economic climate has cast a shadow over everyone’s holiday experience. The inflated prices not only constrain one’s ability to revel in traditional festivities but also impose a financial strain, requiring a delicate balance between expenses and enjoyment for the family.
Vilma Castillo, a carinderia owner who purchases meat daily and vegetables weekly, expressed that budgeting their daily expenses during the Holiday season is difficult, given the significant increase in prices, especially rice and meat.
“Kahit yung mga pang basic/daily needs, mahal na rin (Even the basic necessities are expensive),” Castillo said.
To cope with the increased costs, she has to cost-cut and prioritize what is only needed.
Even with financial constraints, especially during the Christmas season, Filipinos still exhibit an indomitable spirit that transcends economic challenges.
Christmas spirit goes beyond lavish gifts and extravagant Noche Buena feast; it is about the warmth and the joy of being surrounded by loved ones.
The ability to find joy in simplicity, share blessings with others, and embrace the true meaning of the season makes Christmas in the Philippines a uniquely heartwarming and uplifting experience, regardless of economic challenges. DSCA