The country’s largest umbrella group of manufacturers is urging the government to implement proactive measures as higher food costs driven by internal and external headwinds could push up retail prices of basic goods.

The Federation of Philippine Industries (FPI) said higher costs are being absorbed by manufacturers at this time, but the industry group warned that these pressures could soon result in more expensive goods for consumers.

It noted that larger companies may manage the situation better, although smaller producers may not fare as well.

FPI said both global and local factors are driving up production costs, such as the peso’s depreciation—which makes imported inputs more expensive—and rising fuel and logistics expenses.

The business group added that packaging materials continue to increase in price, while recent typhoons have disrupted local supply chains, especially in hard-hit areas.

To help prevent unwanted price hikes, FPI said the government must implement measures to make “price stability truly sustainable.”

Among its recommendations is a policy aimed at strengthening agricultural recovery programs and ensuring affordable access to raw materials.

It also urged the government to address logistics bottlenecks and maintain predictable trade and regulatory policies to help ease current pressures.

“These steps will move us toward resilience that extends beyond seasonal adjustments and secures long-term stability for both industry and consumers,” FPI said in a statement penned by its chairman, Elizabeth Lee.

“This way, we can not only safeguard consumers from sudden price shocks but also support the long-term competitiveness of local manufacturers,” it added.

These measures, according to the group, would build on the success of past collaborations between the government and manufacturers to keep prices of Noche Buena staples affordable.

Over the weekend, the Department of Trade and Industry (DTI) released its 2025 Noche Buena price guide to inform consumers about what to expect this holiday season.

Based on the price guide—which covers 256 holiday food items across 14 categories—129 items retained their prices from last year, while six items saw price rollbacks.

Meanwhile, 95 Noche Buena items posted price increases due to higher costs of ingredients, packaging, and labor.

FPI said local manufacturers are absorbing higher costs as part of their commitment to sustain the holiday traditions of Filipinos.

“The Noche Buena price guide is proof that shared responsibility works. With continued government support, industry can keep food affordable while safeguarding growth potentials—a win for both manufacturers and Filipino households,” it said.