MANILA, Philippines—The hike in the minimum wage in Metro Manila is not expected to have a major effect on consumer prices in the country, according to the Bangko Sentral ng Pilipinas.
BSP Governor Amando Tetangco Jr. said the increase in the daily wage by P30 had been taken into consideration when the BSP made its inflation forecasts.
The government expects inflation, or the rate of increase in consumer prices, to range between 3 and 5 percent for 2012 and 2013.
Based on latest estimates by the BSP, inflation may average at 3.1 percent this year and 3.3 percent next year.
“This [latest wage hike] is broadly in line with the wage assumptions that have been incorporated in our central forecast. We continue to expect average inflation to be within target this year,” Tetangco told reporters.
According to the National Statistics Office, inflation averaged at 3 percent in the first four months of the year.
BSP, which is one of the agencies consulted by the regional wage boards in determining the appropriate increase in wages, said that the rise in workers’ pay will not pose a significant inflationary threat as long as it goes with the rise in labor productivity. –Michelle V. Remo, 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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