by crisipicada » Tue Aug 07, 2018 10:53 pm
Since then, prices increase in the Philippines. Due to TRAIN LAW, the basic commodities such as rice, sugar, can goods etc increase tremendously. For example,retail of white sugar last May was only 42 per kilo. After few months, this August the price increase to 67 pesos per kilo or 59.9% increase. The excise tax has a great impact since the consumers are the one who shoulder the increase of such tax. And this will still increase until 2020.
For five years, month of July 2018 has the highest inflation rate of 5.7%. It simply means that the goods increase by 5.7% compare to July 2017 last year. For instance, a kilo of rice was just 45 last year and now it is 47.57 and up. The buying power becomes low. As the prices increase, the lesser it can buy goods since the prices increase and the income still the same.
An income of 10,0000 below is already consider as below poverty line. However, as I have read news that some government officials said, a family of 4 must have an income of 40,000 to survive. This is very hard for the filipinos since the minimum wage in province is only 318 pesos a day or roughly estimate of Php. 7,000 pesos a month for 20 days. This is not enough to pay bills like water and electricity, and food and rent.
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