Prices of Noche Buena products may be “relatively stable” this year, according to Department of Trade and Industry (DTI) Secretary Ramon Lopez on Thursday.
During the Laging Handa briefing, Lopez echoed manufacturers’ statement that more than half of the stock-keeping units (SKUs) will not increase their prices.
“I would say relatively stable because manufacturers mentioned that more than half of our SKUs will not increase prices and some will even decrease it” he explained, noting that this is a good representation.
Recognizing that some brands will still increase their product prices, Lopez said that the DTI will promote brands that will keep their costs for the consumers to purchase them.
“The DTI’s suggestion is to promote and publish SKUs or brands that will not increase their costs. Consumers have a choice, buy it. Don’t purchase from brands that will adjust their prices upward,” he said.
“We cannot avoid price hikes. But, we require those brands to not exceed three percent,” he added, saying the increase is still lower than the inflation rate of four percent.
With the price hike ceiling, the amount would be manageable for consumers, Lopez said. (© Philippine Daily Inquirer News)
