Inflation making lives difficult for people in the Philippines | Business and Economy News

January 6, 2023 0 By Cypher9ja

For many Filipinos, the increasing cost of basic commodities was that of a ‘developed nation’.

The Philippines is in the middle of battling record inflation, something which President Ferdinand Marcos Jr says is “out of control”.

For many Filipinos, the increasing cost of basic commodities was that of a “developed nation”.

The president, while touting economic recovery, has also acknowledged the high costs of basic goods which he said was running “rampant”.

One of the most significant cooking staples in the country, onions, were being sold for about $10/kg, “among some of the most expensive onions in the world”, Al Jazeera’s Barnaby Lo reported from the capital, Manila, adding that people have described their living situation as “very difficult”.

“I only make $6 to $7 a day. That is barely enough for food,” Poldy Baltazar, a driver with a family of six, told Al Jazeera.

According to the Manila resident, before the pandemic, he made daily trips as a driver, but COVID restrictions now limit him to three or four journeys a week.