Prices of Noche Buena items in sari sari stores increasing, report shows

Retail prices of Noche Buena essentials have been rising months before Christmas, data gathered by Philippine startup Packworks show.

According to data from Sari IQ, the firm’s data analytics tool which measures behavior and spending habits of consumers who shop at sari-sari stores, a number of noticeable changes were seen in the prices of Noche Buena items based on their monitoring from January to September.

The price of milk and cream during the period went up by 11.84 percent, causing a P10 to P15 increase for a 250-milliliter pack of all-purpose cream, 300-milliliter pack of condensed milk, and 370-milliliter pack of evaporated milk.

“The reason for the price increase is that culinary milk and creams are normally imported from other countries. The increasing dollar rate over the peso affects the commodity prices since these are imported,” said Andres Montiel, chief data officer of Packworks, citing that consumers were already feeling the squeeze of the rising cost of living and the stress of these increases to the cost of holiday staples.

Similarly, prices of palm, vegetable, and canola oils went up by 5.95 percent and are now being sold for about P80 more per liter.

Dairy products like cheese, margarine, and chilled ice cream also got 5.28 percent more expensive, adding about P30 to their prices.

Prices of various canned goods also saw a 5.26-percent increase, with the price tags of canned nata de coco, whole and cream-style corn, kaong, pineapple chunks, and fruit cocktails seeing an P8 to P20 jump. Other canned goods such as corned beef, tuna, meatloaf, and sardines also rose by P5.

Meanwhile, bread spreads such as mayonnaise and peanut butter got costlier.  The price of peanut butter increased by 5.77 percent and now cost P40 more per kilo.

“These prices could go up further through the ‘ber’ months, and demand will definitely be higher. Our local households may be able to skimp on other items, such as clothing or gas, but they have to eat,” he added.

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