CEBU, Philippines - Prices of basic necessities and prime commodities in Central Visayas have dropped by an average of three percent from its prices three months ago, however remained comparatively higher against the prices in the same period of last year.
Based on the recent price monitoring report of the Department of Trade and Industry regional office, with Cebu City as the key city for the monitoring, data showed that prices of basic commodities in supermarkets and wet markets have remained stable for the month of July.
A can of sardines, which is now pegged at a standard retail price of P11.80 was sold three months ago at P12.40, which translates to a drop of 4.8 percent. However, the prevailing price is still relatively higher than the price a year ago, which was pegged at only P10.70.
Meanwhile, as prices of evaporated and condensed milk posted insignificant changes in its prices, the price of powdered filled milk posted a 13.4 percent increase from its price a year ago at P43.65 per 180 grams to P49.50 for the month of July this year.
Coffee refill, on the other hand, posted a 9.09 percent increase from P13.75 per 25 grams last year to P16.60 per 25 grams this year.
Prices of detergent soap posted the highest increase so far. A 420 gram laundry soap that sells for P16.50 last year is now pegged at P20.50 this year translating to a 24 percent increase.
A can of corn beef, which was sold three months ago at P30.50 now sells only for P29 in wet markets and P28.80 in supermarkets, an average drop of around five percent. However, vis-à-vis year ago prices, the prevailing price is still 10.68 percent higher.
Prices of luncheon meat posted a 10 percent increase from last April’s price of P24.50 compared to the prevailing price of P26.95 in supermarkets this month.
Prices of hard flour posted the biggest drop of 15 percent from its price of P950 per 25 kilogram last year to P800 per 25 kilogram this month. The price of flour also dropped by eight percent from three months ago, which was pegged at P870 per 25 kilogram.
With the dropping inflation, prices of basic necessities and commodities are expected to go down further in the coming months.
Source: The Freeman Cebu
