NEWSFLASH

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PRICES OF BASIC GOODS STABLE

Manila, Dec. 8, 1997 - Despite the onset of the Christmas season, the prices of most commodities commonly used by low income households remain the same and sometimes lower than the prices right after the peso started to depreciate in July.

Raul Concepcion, chairman of the Private Sector Consumer Price Watch, said the price survey covered 24 markets and 17 supermarkets in the Metropolitan Manila area over the weekend. Commodities surveyed included rice, brown sugar, cooking oil in rum bottle measurements, dressed chicken, fresh and frozen galunggong, tomatoes, eggs, pork belly and bangus.

Marginal price increases were recorded in refined sugar, evaporated milk, powdered milk, instant coffee and canned sardines. Nonetheless, the price increases were kept at a minimum.

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