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
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!
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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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