MANILA, Philippines — The Department of Trade and Industry said Friday that prices of 134 Noche Buena products were steady since last year amid reports that there were 92 items whose price increased.
In a statement, the DTI said prices of 134 product lines such as keso de bola, cheese, sandwich spread, mayonnaise and pasta spaghetti were unchanged compared to last year.
Meanwhile, prices of six products — which include keso de bola, pasta spaghetti and tomato sauce — were down by P11 this year.
According to the DTI, there are “minimal” increases in prices of few premium brands every year while brands for mass-based markets don’t usually change.
“This is due to their fear of competition and the probability of losing market share in a price sensitive segment,” Trade Secretary Ramon Lopez said.
Noche Buena products are not under price control as they are not considered part of the basic necessities and prime commodities. — Ian Nicolas Cigaral