Increases in prices of basic goods and prime commodities registered wild swings from a minimum of less than a percent to a maximum of 50 percent over a nine-month period , data from the Department of Trade and Industry showed.
The DTI data showed that the lowest minimum change in prices was 0.07 percent for coffee and a maximum 2.79 percent increase during the August 2021-May 2022 period. The highest minimum increase among BNPCs was bread at 9.30 percent and a maximum of 10 percent over nine months. All BNPCs – milk, instant noodles, detergent soap, bottled water, candles, canned meat, condiments, toilet soap, and batteries — registered upward price changes.
Manufacturers may either take on the extra costs themselves, find new ways to cut costs or pass rising prices along to customers who are already reluctant to spend. To stop price adjustments, DTI cited the need to efficiently manage soaring prices of fuel.
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