More than a thousand Filipinos expressed last January they experienced difficulties “meeting financial needs based on monthly earnings alone.” Know more:
MORE than a thousand Filipinos expressed last January they experienced difficulties “meeting financial needs based on monthly earnings alone.”
SMRSC President and CEO Germaine A. Reyes said January’s figure is still much higher than the 31 percent experienced in June 2022 when the economy reopened. In January of this year, the Philippine inflation rate peaked at 8.7 percent, primarily driven by escalating prices of food, utilities, and housing. Although the inflation rate declined to 6.6 percent in April, it remains higher compared to the previous year’s 4.9 percent.
Fifteen percent of the respondents said they are planning to spend more on healthcare products and food supplements.
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