No Price Hikes for Basic Goods Through Dec. 31, Philippine Trade Department Says
Key Takeaways
- •The DTI secured agreements from manufacturers and retailers to keep prices of 204 regulated basic necessities and prime commodities unchanged until Dec. 31, 2026.
- •The price pledge holds despite pressures from volatile energy costs, inflation, and a weak peso, giving households predictability for year-end budgets heading into the holidays.
- •Noche Buena items traditionally served at the Christmas Eve feast are excluded from the commitment, with the DTI expected to issue a separate holiday price guide closer to December.
- •The DTI said supply levels for regulated staples such as canned goods, milk, bread, and noodles are sufficient through year-end and urged consumers not to panic or hoard.
- •SBCorp. loans remain available for farmers and enterprises affected by El Niño, which has affected an estimated 451,000 individuals as of Oct. 14 and is projected to continue into the first half of 2027.
PRICES of basic goods monitored by the Philippine Department of Trade and Industry (DTI) are not expected to rise for the remainder of the year, the agency said, citing commitments it has secured from manufacturers and retailers.
"For basic necessities and price commodities of the 204 SKUs (stock keeping units), there is no price increase up to Dec. 31, 2026," Trade Secretary Maria Cristina A. Roque told reporters on the sidelines of the DTI COCONUT Philippines Trade Fair on Thursday.
Ms. Roque said that following her recent meeting with manufacturers and retailers, she obtained their agreement to keep prices steady despite volatile energy costs, inflation, and a weak peso. Because the covered items are everyday staples, the pledge gives households a measure of predictability for year-end budgets heading into the holidays.
The commitment, however, does not cover items typically served during the Christmas Eve feast, known in the Philippines as the Noche Buena. Those goods are "a different discussion," she said. In past years, the DTI has issued a separate holiday price guide for Noche Buena items closer to December.
Supply levels for regulated basic goods are also sufficient through the end of the year, according to Ms. Roque. "There's no need to panic or hoard, they have enough supply," she added.
The DTI regulates the prices of 204 stock keeping units — basic necessities and prime commodities monitored through its Suggested Retail Price (SRP) system under the Price Act — to deter hoarding and price manipulation. Covered items include canned goods, milk, bread, noodles, salt, bottled water, detergent soap, laundry soap, batteries, candles, and condiments.
Separately, Ms. Roque said loans remain available from the Small Business Corp. (SBCorp.), the government's financing arm for small businesses, for farmers and enterprises affected by El Niño. "SBCorp. (is still) actively giving out loans," she said. "We have so many loan programs, so I'm sure most of them can avail of those offerings."
According to government estimates, about 451,000 individuals had been affected by El Niño as of Oct. 14, with the weather phenomenon expected to continue until the first half of 2027.
— Beatriz Marie D. Cruz
Source: BusinessWorld Online
