The Department of Trade and Industry announced that the prices of food for the traditional Christmas celebration have remained stable as the competition among manufacturers is keeping a lid on prices.
“For Christmas products, we say that prices are generally stable, especially for the commonly used products like pasta and sauce,” Trade Secretary Ramon Lopez told the Kapihan sa Manila Bay forum in Manila.
And it appeared that consumers were being put off by the high prices of vegetables that they were steering clear of them, with the result that vegetable prices were going down, the department said.
Manufacturers compete for a greater share of the market for their products during the holiday season, and that’s healthy competition that helps to keep prices stable.
“It’s really a competition for market share,” Lopez said.
And given the choices a consumer has for Christmas food items, several manufacturers would also think twice before raising prices, he said.
“The consumer will always choose value for money so that manufacturers will be afraid to raise prices,” Lopez said.
Filipinos buy Noche Buena products for the traditional Christmas Eve celebration like pasta, fruit cocktails, ham, tomato sauce, mayonnaise, and cheese.
On Oct. 14, the Trade department released a list of suggested retail prices for Noche Buena items.
But Lopez said the prices of some items had already increased prices, particularly high-end ham.
He said the peso-dollar exchange rate was also starting to stabilize as the Filipino workers abroad had started sending money to their relatives.
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