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John Albert Orcajada Economics 2

Theo Malacad Mrs. Cherryville Mejares

2nd Year BSACT 2B

Prices of 10 Noche Buena items go up; DTI issues SRP

By: Amy R. Remo - Reporter

Philippine Daily Inquirer

08:36 AM October 09, 2016

ARTICLE SUMMARY

MANILA, PhilippinesPrices of 10 noche buena items have increased based on

the 2016 Suggested Retail Prices (SRP) list issued by the Department of Trade

and Industry on Wednesday.

These price increases, which ranged from 15 centavos to P97.30 per piece,

covered several brands of ham, fruit cocktail, cheese, sandwich spread,

mayonnaise, queso de bola, macaroni, spaghetti sauce, tomato sauce and cream.

The only Noche Buena item that did not register an increase was the elbow and

salad macaroni.

Trade Undersecretary Victorio Mario A. Dimagiba explained that these increases

were due to the rising cost of the raw materials or ingredients for making these

products such as pork (liempo, kasim and pata front), and milk

II. REACTION

It is natural for the price of goods to rise up because entering Christmas

season is typically a peak selling season for retailers in many nations around

the world. Sales increase dramatically as people purchase gifts, decorations,

and supplies to celebrate. But most of the consumers are people from average

status of community or lower than that. And they could not afford the whole

package that should be needed in their table. The demand of the goods that

had been stated must be at lower rate than when it had its last price, which is

affordable one. They should give a promo package or volume sale for such

products. And they should use of substitute raw materials instead of high

quality ones. This could ease the pain in the ass of consumers when it comes
on how they should budget their income. Because not all workers and

labourers could receive the thirteenth month pay. Not all the consumers could

afford that kind of stuff.

III. Conclusion

Therefore we conclude that as the month of December comes it is expected that

the price of the products that is often consume by the buyers in this season

will increase. And the demand for the substitute products will rise because of

the continuous increasing of prices of high quality ones.

Prices of 10 Noche
Buena items go up;
DTI issues SRP
By: Amy R. Remo - Reporter
Philippine Daily Inquirer

08:36 AM October 09, 2016

MANILA, PhilippinesPrices of 10 noche buena items have increased

based on the 2016 Suggested Retail Prices (SRP) list issued by the
Department of Trade and Industry on Wednesday.

These price increases, which ranged from 15 centavos to P97.30 per

piece, covered several brands of ham, fruit cocktail, cheese,
sandwich spread, mayonnaise, queso de bola, macaroni, spaghetti
sauce, tomato sauce and cream. The only Noche Buena item that did
not register an increase was the elbow and salad macaroni.

Trade Undersecretary Victorio Mario A. Dimagiba explained that these

increases were due to the rising cost of the raw materials or
ingredients for making these products such as pork (liempo, kasim
and pata front), and milk.

There are, however, other variants of these products and other

brands selling ham, pasta and elbow and salad macaroni that did not
adjust their prices, according to the DTI.

The SRP for Noche Buena products is meant to serve as a guide for
consumers in their purchases during the holiday season. At the same
time, it is meant to serve as a warning to retailers to ensure that they
sell these products within the set price ceilings.

The SRPs are provided by manufacturers to set retail prices of

products. With the published SRPs, consumers are guided on whether
the goods sold are overpriced or above the profit margin, Dimagiba
said.

The DTI intensifies its market-monitoring activities particularly for

Noche Buena products to ensure stable prices and supplies this
Christmas season and protect consumers from unscrupulous traders
taking advantage of the spike in shopping activities, he said.

The complete list can be viewed at the DTI website and will be
published in major newspapers. Government will also require its
posting in supermarkets and retail stores nationwide.

Dimagiba warned that retailers found selling above the SRPs will be
asked to explain and show the cost of acquisition. If found guilty of
violating the Price Act, the manufacturer or distributor would be
slapped with a fine of up to P1 million. Criminal liability for illegal
price manipulation may also result in imprisonment of not more than
15 years and a maximum fine of P2 million.

Meanwhile, consumers in Metro Manila can avail of discounts

between 10 and 50 percent for certain basic and prime goods, home
appliances and motorcycle helmets as the Diskwento Caravan, the
flagship project of the DTI, again makes its rounds across the country.

The Diskwento Caravan is composed of manufacturers and

distributors of basic necessities and prime commodities that the DTI
and the Department of Agriculture monitor in the market. These
products include rice, fresh meat, vegetables, sugar, cooking oil,
canned meat and fish, bread, processed meat, detergent soap,
instant noodles, and milk.

Also included in the caravan are the manufacturers and importers of

such products as home appliances, Christmas lights, and motorcycle
helmets, which are covered in the DTIs product certification scheme
and have been issued the Philippine Standard (PS) license and/or the
import commodity clearance (ICC) certificate.