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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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