Try an Experiment
(1) If you have access to non-protected red peat moss, collect a few plants, and dry them.
(2) Submerge them in an alkaline solution (e.g., baking soda, dissolved in lukewarm water). The red color should fade. Depending on the original shade of red and on the strength of the base, the red color will change to pink, green, a bluish purple or even black.
(3) Rinse the plants briefly in water.
(4) Submerge them in an acidic solution (e.g., lemon juice or white vinegar). The original red color should reappear.
The pigment "sphagnorubin", a flavonoid contained in red peat moss, is a chemical indicator of acidity.