Price hikes expected in select primary goods in February

Consumers are set to tighten their belts in the coming month, as producers are scheduled to implement hikes in the prices of select primary goods.

Based on a report by Bernadette Reyes on GMA’s “24 Oras Weekend” on Sunday, prices of sardines are expected to go up by P0.30 to P1.25, condensed milk by P2.25 to P3.75, and evaporated milk by P1.75 to P2.25.

Price increases were earlier recorded in Pinoy tasty, which is now at P38.50, up P3.50 from the P35 in August 2021, and in Pinoy pandesal, which is up by P2 to P23.50 from P21.50.

Sellers of food items such as pork and fish have also noted increases, which middle man blamed on the successive increases in the pump prices of petroleum goods.

Oil firms have so far only implemented upward price movements this year, with at least one petroleum product up by P1 per liter in the past four weeks.

At present, the Litex Market range from P130 to P140 per kilogram; kasim/pigue at P320 per kilogram, and liempo at P360 per kilogram.

Higher prices were recorded at the Marikina Public Market where kasim/pigue prices range from P380 to P390 per kilogram, and liempo from P380 to P390 per kilogram.

According to the Samahang Industriya ng Agrikultura (SINAG), prices of fish are expected to improve as fisherfolk will once again be allowed to harvest as the closed season ends.

“Wala tayong nakitang shortage dito sa area, and marami pang stock dun sa cold storage. ‘Pag dating ng March, tingnan na lang ilan pa ang kulang,” SINAG Chairman Rosendo So said in the same report.

(We do not see any shortage in the area, and there are still a lot of stocks in cold storage. Assessment should be done on the inventory in March.)

Inflation clocked in at 3.5% in December, the fastest level in over a year as commodity prices surged during the month. The Philippine Statistics Authority (PSA) is scheduled to release January inflation data on February 4. — Jon Viktor D. Cabuenas/BM, GMA News