Price increase of Noche Buena items flat in 2023

The general increase of the Noche Buena items, as measured by the basket’s price index, slipped by 0.1% annually this year, a reversal of the 25.7% rise in 2022. This brought the average price hike of the basket to 2.6% from 2012 until present. Since 2011, the Noche Buena price index has climbed by 25.4%. BusinessWorld has been monitoring the annual price changes of the Noche Buena items through a price index that gauges how fast (or slow) the price of this representative basket of goods has risen (or fallen) over the years. The prices of goods are based on the Department of Trade and Industry’s list of suggested retail prices. Earliest available data date back to 2011.