Prices of Noche Buena items surge in 2022

The general increase of the Noche Buena items, as measured by the basket’s price index, surged by 25.7% annually this year.This was a turnaround from the 15.2% contraction in 2021. This brought the average price hike of the basket to 2.8% from 2012 until present. Since 2011, the Noche Buena Price Index has climbed by 25.5%. BusinessWorld has been monitoring the annual prices changes of the Noche Buena items through a price index that gauges how faster (or slower) the price of this representative basket of goodshas risen (or fallen) over the years. The prices of goods are based on the Department of Trade and Industry’s (DTI) list of suggested retail prices. Earliest available data date back to 2011, which also serves as the base year for calculating the Noche Buena index.