Filipinos can expect the prices of items used in noche buena, a special meal eaten on Christmas Eve, to rise as the holiday season approaches, the Department of Trade and Industry (DTI) said.

In an interview with dzBB, Assistant Trade Secretary Jean Pacheco said manufacturers of canned goods told the department in a meeting they would increase their prices, by one to four percent or P1 to P6.

“We talked to them. I think it was the other day. They stood by what they said when we met. The manufacturers of canned meat said they would increase their prices by one to four percent. This is small compared to their production cost which increased by 15 to 20 percent,” Pacheco said

Pacheco said DTI was able to ask manufacturers of canned goods covered by their suggested retail price (SRP) to postpone their price hike and implement it next year.

“The manufacturers of corned beef have started asking for an SRP adjustment. We told them that we begin our assessment of the prices again next year,” she said.

Pacheco said the DTI will release a Noche Buena guide soon to help consumers decide which products fit their budget since some items maintained their prices or decreased.“The Noche Buena guide would be helpful because before you go to the grocery you choose what brand you want to buy. We are forming a list which includes all the products used in Noche Buena, so they can choose the items carefully,” Pacheco said. Jaspearl Tan/DMS