People in general understand inflation as they experience it (comparing prices from the old days); however, they are ill-equipped to handle it. Even wage increases are not guaranteed to be higher than the country's inflation rate.
PH is a consumer driven economy. We may still be fueled by OFW and BPO money which helps sustain the spending; however, once this gets impacted consumer demand will go down.
Great to see posts like these, very informative and thanks for sharing! I remember it is from your post that you mentioned about PH already being an aging population. I think that will definitely impact PH in the future.
Ideally, this should be the case but it's also not a clear cut how to adjust wage rates because it all depends on the cost of living from where one is at. I've checked the stats on wage surveys and the wages for people living in NCR are higher than the rest of the country.
Not yet, but give a decade or two. Our fertility rate from 2022 record shows 1.9. We need a 2.1 level just to breakeven as 2 parents get replaced by 2 kids. It's a ticking time bomb considering the decades from now problem is us (becoming seniors) will outnumber the younger voters. And seniors will be voting more on retiree benefits funded by tax payer money. It's not like all seniors can still work so the burden of taxes get shouldered by the younger working class.
Maraming makabuluhang posts ako na isip pero maliit lang yung "audience" ko na makakaappreciate ng info because the investing types aren't what makes up a lot of pinoy user base here.