Price increases of holiday essentials like culinary milk, cream, canned desserts and cooking oil could signal an expensive Christmas for Filipinos, according to a study by Packworks, a Philippine-based startup that provides a business-to-business platform to sari-preneurs.
Packworks Sari IQ data showed these items, which are commonly used for Noche Buena food like fruit salad, leche flan, and halo-halo, have registered price hikes in recent weeks.
The study showed the price of import-dependent milk and cream went up by 11.84 percent.
A 250-milliliter (ml) pack of purpose cream, 300-ml pack of condensed milk, and 370-mlpack of evaporated milk now cost P10 to P15 more than the previous price.
Prices of palm, vegetable, and canola oils soared by 5.95 percent and are now being sold for approximately P80 more per liter, while prices of spreads such as mayonnaise and peanut butter increased by 5.77 percent and now cost P40 more per kilo. Dairy products like cheese, margarine, and chilled ice cream got 5.28 percent more expensive at around P30.
Canned goods also grew costlier by 5.26 percent. Prices of canned nata de coco, whole and cream-style corn, kaong, pineapple chunks, and fruit cocktails jumped by eight pesos to P20. Other canned products such as corned beef, tuna, meatloaf, and sardines rose by P5.
The result has been steadily higher prices in sari-sari stores since January of this year due to inflation.
The cost of frozen processed food jumped 4.9 percent. Packed hotdogs, hams, and nuggets are sold for P25 more than the suggested retail price.
Prices for other goods also jumped: Tea and 3-in-1 coffee mixes rose 4.13 percent; snacks like candies and biscuits, as well as fruits and vegetables, increased 2.50 percent, while powdered milk and chocolate drinks are up by 2.04 percent.
Data was generated from Packworks’ network of almost 200,000 sari-sari stores nationwide.
