DTI: Prices of basic goods to drop towards Christmas

MANILA, Philippines – Prices of basic commodities would likely go down towards the Christmas season due to lower prices of oil in the world market, Trade Secretary Peter Favila said yesterday.

He said the Department of Trade and Industry (DTI) monitored slight reduction in the prices of basic consumer goods in recent weeks and he was given assurances by manufacturers and traders that they expect prices to go down further.

“They were saying there is a very good possibility of prices coming down as Christmas approaches,” Favila said.   – Paolo Romero