commodities soon after it has engaged manufacturers to either temper or, ultimately, forego price increases of traditional holiday products.
“We are closely coordinating with the manufacturers. There were requests for price increases because of aggravating factors like global oil prices, high transportation costs and even the declining peso value,” she said. About 10 manufacturers of Noche Buena products have standing petition for price hikes including some ham products, pasta, mayonnaise and other traditional holiday fares.The DTI is carefully assessing the merits of their petition to sync with the updated Noche Buena SRP.
Meanwhile, the DTI stressed it will penalize retailers who are found to have overpriced products included in the general SRP and Noche Buena SRP list.
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