The Department of Trade and Industry recently announced that prices of 134 Noche Buena products were steady since last year. One hundred thirty four products remained unchanged compared to last year. Moreover, six products were down Php 11 this year. However, according to the department, there is a minimal increase in prices in premium brands every year whilst brands for mass based markets are unchanged.
“This is due to their fear of competition and the probability of losing market share in a price sensitive segment,” states Ramon Lopez, Trade Secretary, in an article by Philippine Star. Moreover, Noche Buena items are not under price control as they are not considered as basic necessities and prime commodities.
It can be recalled that the Department of Trade and Industry has released a comprehensive list of Noche Buena items with corresponding suggested retails price. The list included Noche Buena essentials grouped into ham, fruit cocktail, cheese, sandwich spread, mayonnaise, keso de bola, pasta / spaghetti, elbow and salad macaroni, spaghetti sauce, tomato sauce, and creamer.
Consumers are also encouraged to check the prevailing prices of basic necessities and prime commodities through ‘e-Presyo’. ‘e-Presyo’ is the online price monitoring system where consumers can check prices of necessities and commodities being monitored by the Department of Trade and Industry. It also serves as a price guide for consumers to ensure ‘value for money’.