As inflation continues to impact household budgets in the Philippines, Filipinos are adjusting their Valentine's Day spending habits. While the cost of ingredients for romantic dinners is rising, consumers are opting for more budget-friendly alternatives like handmade gifts, intimate experiences, and spending more time with loved ones. Visa reports a shift towards experiential gifts and an increase in active card transactions, despite a decrease in spending per transaction.
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Tomatoes, for instance, recorded 155.7% inflation in January, while inflation of meat prices quickened to 8.5%. A bouquet of roses will set you back around P1,000 to P2,399, depending on where you’re getting them from.As inflation began to ease post-pandemic, a data analysis by Visa Consulting & Analytics found a rise in active card transactions in February 2024 compared to the year prior.
VALENTINE's DAY INFLATION GIFTS PHILIPPINE ECONOMY CONSUMER BEHAVIOR
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