The Department of Trade and Industry (DTI) said Thursday manufacturers have committed to retain the 2019 prices of noche buena items amid the COVID-19 pandemic.
According to Trade Secretary Ramon Lopez, the government has been in close coordination with private companies since November to ensure that there will be no price increase of basic goods and noche buena items this Christmas season, which usually has an increase of 3% to 5%.
“Itong mga manufacuturers ng noche buena products in coordination with DTI, nakisama po para sa ating mga kababayan dahil sa kahirapan, sa pandemya maraming nawalan ng trabaho, na hindi sila mag-i-increase,” he said.
(These manufacturers of noche buena products, in coordination with DTI, have come together for our countrymen. Due to poverty, in the pandemic, many have lost their jobs. They will not increase prices.)
“‘Yun ‘yung magandang balita, talaga hong same 2019 prices po sila as 2020, so ‘yun ang at least maganda ngayong kapaskuhan na ‘yung noche buena products at mame-maintain,” he added.
(That’s the good news, they really have the same 2019 prices as 2020, so that’s at least good this holiday season for noche buena products.)
DTI: Manufacturers retain 2019 prices of noche buena items
The inflation rate (increase in the prices of goods and services) soared to its highest in over a year due to the faster increase of food items’ price due to the strong typhoons’ agricultural damage.
The country recorded a 3.3% inflation rate in November from 2.5% in October. This is faster than the 1.3% inflation rate in the same period last year.
Last month’s inflation rate is also the highest since April 2019, at 3%.
November’s rate is also faster than the Bangko Sentral ng Pilipinas’ projection range of 2.4% to 3.2%.
“Ang pinaka-challenging talagang parte ay ‘yung sa mga palengke. Karamihan dito, ‘yung mga agricultural products, talagang very challenging in the sense na subject talaga sila sa supply and demand,” said Lopez.
“Kung mayroon mang mga pagtaas ngayon ay dahil sa kalimitan ng supply na naapektuhan, for example, nag pagbabawas let’s say ng production,” he added.