Palace not keen on price cap of noche buena items

Amid a recent spike in prices of some goods for Noche Buena, Malacañang is not keen on forcing a price cap on selected "Christmas food" items. But deputy presidential spokeswoman Abigail Valte said Saturday the Palace expects the Department of Trade and Industry to monitor prices of these items and crack down on profiteers. "Usually naman meron tayong seasonal price increase, lalong tumataas. Lalo na katulad niyan, the holidays are approaching (There are food items that are subject to a seasonal price increase especially with the holidays fast approaching)," Valte said on government-run dzRB radio, when asked about a price cap. Earlier reports indicated hikes in the prices of food items for the Christmas feast "Noche Buena," including pasta, noodles, fruit cocktail, and ham. Valte said the Palace expects the DTI to monitor the prices and make sure any price adjustment is reasonable. "Nakikita naman ng DTI and I think nagpapaikot sila ng nag-spot check sa pamilihan sa umaabuso at nag-o-overcharge sa bilihin (I think the DTI is sending teams to markets to check against those who will overcharge and abuse the season)," she said. — LBG, GMANews.TV