MANILA, Philippines—The increase in minimum wages in five regions outside Metro Manila and the strong inflow of foreign capital are expected to exert upward pressure in consumer prices in the coming months, Socioeconomic Planning Secretary Cayetano W. Paderanga Jr. said.
Paderanga said the wage hikes in Western Visayas, Northern Mindanao, Caraga, and Davao would directly affect inflation, which was recorded at an 11-month low of 2.8 percent year on year in October.
Regional boards set the wage hikes at P15 for Western Visayas, raising minimum daily earnings to a range of P223-P265; P13 for Northern Mindanao workers (P229-P256); P10 for Caraga (P213-P243); and P21 for Davao (P255-P265).
Average inflation in the 10 months to October was set at 4 percent, well within the government’s full-year target range of 3.5 percent to 5.5 percent.
Also, strong capital inflows are beginning to affect inflation in Southeast Asia. But central banks across the region have already started to take action to curb the impact.
“In the Philippines, the Bangko Sentral ng Pilipinas has approved policy amendments … [which will] keep the foreign exchange regulatory framework responsive to current conditions, ensuring the competitiveness of the Philippine peso,” he explained.—Ronnel W. Domingo, Philippine Daily Inquirer
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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