Prices of basic goods start to move up - DTI

The prices of some basic goods are beginning to move up, according to the Department of Trade and Industry (DTI).

DTI, which conducts regular monitoring activities, said the prices of instant noodles, powdered filled milk, coffee, canned fish and corned beef have moved up.

While most food manufacturers are still trying to maintain their prices, some have already begun adjusting their prices, the DTI said.

Nestle Philippines, for instance, has submitted and received approval from the DTI for its price increase. Based on its new suggested retail prices as of Jan. 13 this year, Nestle is effecting a price increase for almost all of its products such as Carnation evaporated milk, Alpine evap, Milkmaid sweetened condensed milk, Carnation sweetened condensed milk, Liberty sweetened condensed, Nido full cream milk, Bear Brand instant, Bear Brand sterilized, Nan infant milk, Nestogen, Nestogen Prebio, Milo and Nescafe classic and decaf.

Market monitoring by the DTI showed that the price of Saba canned fish (155g) increased from P8.50 last week to P9.25 this week, while Purefoods’ (210g) corned beef increased from P42 to P43.

Nestle’s Maggi instant noodles now cost P5 from only P4.75 last week, while Nestle’s Bear Brand powdered filled milk (180g) now costs P30 from P29 last week, while the Bear Brand 80 g now costs P14 from last week’s P13.50.

Nestle’s Nescafe refill (25g) is up P1 to P13.50 from last week’s P12.50.

Even local food seasoning Lorins patis now costs 50 centavos more from P10.50 a week ago.

Toilet soap Ivory (90g) now costs P15 from P14.50 a week ago . Candles also cost slightly more now with the #18 pack of four now costing P18 from P17.50 a week ago.