Puregold to impose price drops in basic goods

Puregold Price Club Inc. on Wednesday announced that it would enforce price drops in some basic commodities and products in order to help Filipinos amid the rising prices of goods.

“We believe that our customers should continue to have access to trusted, high-quality goods. From our stores’ already low prices, we’ve taken immediate action to further reduce the cost of essential items with the help of our partner suppliers,'' Vincent Co, president of Puregold, said in a press release.

Puregold said that among the branded products with discounted prices are grocery staples such as chocolate drinks, condensed milk, cheese, baby diapers, and dishwashing liquid.

The discount scheme is set to be implemented across all Puregold branches nationwide.

The Philippine Statistics Authority said that the Philippine economy grew slower at 5.6% in 2023, falling short of the government's target as elevated interest rates resulting from high inflation environment dampened consumption.

The PSA said that the economy, as measured by gross domestic product (GDP) or the total value of goods and services produced in a period, grew by 5.6% from October to December 2023, falling short of the government's target. —Anna Felicia Bajo/KG, GMA Integrated News