Some manufacturers of Noche Buena (Christmas Eve repast) products are asking for a price increase of as much as three percent during the holiday season, according to Trade and Industry Secretary Ramon Lopez.
(ALFRED FRIAS / PRESIDENTIAL PHOTO / FILE PHOTO / MANILA BULLETIN)
Lopez said the Department of Trade and Industry Consumer Protection Group is currently reviewing if such request for price increase is reasonable.
"Wide po iyong range na hinihingi nila from less than one percent to about three percent masasabi ko doon sa mga application. Every year pong may mga brands na nagre-request po ng mga price adjustment to cover for iyong increases in cost nila (They're asking for a wide range – from less than one percent to three percent in their application. Every year, there are brands that request for price adjustment to cover the increase in their costs)," he said during a “Laging Handa” public briefing Monday.
Based on previous experience, Lopez said of the more than 20 brands, around five companies usually request for price increase during the Christmas holiday.
"Ito po ay inaa-aral ngayon ng ating Consumer Protection Group at kung reasonable iyong mga increase at kung hindi man ay binabawasan kung anumang increase ang hinihingi nila (This is now being reviewed by the our Consumer Protection Group to determine if the increase is reasonable and if it is not, reduce the increase they are requesting)," he added.
This holiday season when consumer purchases are at its peak, Lopez encouraged the public to choose products that offer value for money. He noted that some companies usually offer "bundling promo" where a product is offered with another item at affordable prices.
"At the end of the day, ang ating (our) consumers are advised to really select the products that we can consider, the brands that we can consider value for money," he said.
Apart from Noche Buena items, Lopez said some companies manufacturing canned products like canned sardines and meat products have also requested an upward adjustment of their prices. He said the applications for price increase for these products are still under government study.
"Tinitingnan talaga iyong cost items, hindi po kasi lahat noong ni-request nila ay na-aprubahan naman under the SRP (suggested retail price) system lalo na kung ito ay part ng basic necessity at prime commodities (We are looking at the cost items. Not all requests are approved under the SRP system especially if they form part of basic necessity and prime commodities)," he said.
"Iyon pong labas o wala sa listahan, they are open to do so, iyong mga price adjustment, pero iyong covered ng ating SRP list para maprotektahan po ang ating mga kababayan at talagang ito po iyong binabantayan ng DTI para hindi basta-bata makapag-price increase sila doon sa presyong gusto nila (Those not on the list, they are open to do so, the price adjustment. But those covered by the SRP list, the DTI really monitors the prices to protect our countrymen so they cannot just raise their price as they please)," he said.