MANILA, Philippines — The average price of four rolls of toilet paper in the Philippines increased by almost 18 percent over roughly the previous month, which could be attributed to “corona-induced” supply and demand problems, according to research from financial comparison platform Finder.
The study showed that the price of four rolls of toilet paper in the country rose from an average of US$1.07 (P53.83) to US$1.26 (P63.39), a 17.76-percent increase that is well above the global average price increase of 3.37%.
Of the 90 countries included in the study, the Philippines posted the sixth biggest price increase, Finder said in a report sent to the media on Monday.
Norway saw the largest increase overall, with prices jumping a massive 67.53 percent from US$2.71 (P136.34) to US$4.54 (P228.41). Singapore had the second highest increase (48.84 percent), followed by Cyprus (35.08 percent), Austria (33.85 percent), and Malaysia (32.26 percent).
“With panic buying setting in around the world, a number of common household items have been in short supply. While the Department of Trade and Industry (DTI) was quick to announce a price freeze on basic necessities, there are always going to be those that look to capitalize on shortages by driving up the prices,” said Angus Kidman, Finder’s global editor-in-chief.
“The jump in the price of toilet paper in the Philippines was well above what we saw in most other countries,” he added.
According to Finder, the study tracked user-contributed data from Expatistan, a cost-of-living calculator that allows a comparison of the cost of living between cities around the world.
Overall, countries in Asia saw the biggest price increase on average at 7.56 percent, followed by Oceania at 6.15 percent, Europe at 4.62 percent, and South America 0.77 percent.
“In some parts of the world supply issues may have contributed to higher prices, with employees unable to go to work and transportation delays, especially across borders,” said Kidman.
Kidman, however, pointed out that the Expatistan data is self-reported and limited in use.
“We don’t know definitively whether price increases are due to retailers charging more for in-demand products or whether people are simply reporting higher prices,” he said.
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