Malacanang admits that they have no control over the increase in prices of noche Buena items.
This was the Palace response after some consumers group questioned the government’s failure to order entrepreneurs to lower the prices of rice, meat, chicken and other basic commodities as there’s an almost 15 peso price hike on the said items.
According to Deputy Presidential Spokesperson Abigail Valte, they couldn’t dictate businessmen and manufacturers to lower the prices of their products especially this coming holiday season.
Usec. Valte added that even President Benigno Aquino III knows as an Economist that he is not allowed to meddle with market pricing because this is being dictated by the market forces.
However, the President could task the DTI to monitor the prices or file complaints against abusive sellers.
“As far as the monitoring is concerned, normally, a spike in some of the prices, what they call the “Christmas items” when the season comes in. The monitoring of DTI has so far said that prices remain stable and stocks are all there,” explained Valte.
Valte also advised Filipinos to buy cheaper brands, including the NFA rice instead of the commercial rice which is more expensive nowadays.
“What the government does, really, is a good substitute and is available in most markets.”