LKI statement on the SRP of Noche Buena products.
October 30. 2019
LKI 52nd Press Statement
LKI to DTI- Rollback or Maintain SRP of Noche Buena products.
The annual rate of inflation for the food index fell by 1.3pct last month and was reported at .3 pct in August this year . Given these positive numbers, the DTI should not preempt issuing
public statements that there will be increaes in the SRP of Noche Buena products .
Vic Dimagiba the LKI President said that DTI SHOULD instead focus on studying how much it should pass on to the consumers the positive inflation in terms of lowering SRP. The outlook for inflation for the balance 3 months remain very low.
Dimagiba added that the raw materials of the products had remained stable and we have relatively lower electricity and diesel prices the past 3 to 5 months
Pasta and bread should remain unchanged if not lower as wheat had remainded low this year.
For processed ham ranging from the basic 500 grams to the 1 kg Chinese sweet ham, the consumer group calls on Pampi members to call off its planned increases as consumers continue to reel from fear of the risk to health of contaminated ASF pork.
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