THE EFFECTS OF INFLATION ON POVERTY IN THE PHILIPPINES: A GROWING CONCERN

Elizalde-Poblete, Ma. Cristina
Esguerra, Antonio II
Palle, Carmencita
Rey, John Julius
Samson, Guilbert Sherwin
Taccad, Winston Primitivo
Tomas, Hazel

Senate and House of Representatives
Middle Managers Track
Learning Module on Data-Driven Policy Decision-Making
2022

Abstract

Inflation is one of the contributory factors in the drastic rise of poverty in the Philippines in which 20 million of the country’s population live in poverty. This is further aggravated by the prolonged Russian-Ukrainian conflict, high oil prices, increase in the US Federal Reserves’ interest rate and the effects of COVID-19 pandemic. It is a continuing challenge for the government to lessen, if not eradicate, its impact on the lives of every Filipino. Social safety measures and/or policies are being undertaken to reduce the adverse effects of inflation, and align public policies with the government’s long-term vision – the AmBisyon Natin 2040, and the Philippine Development Plan 2017-2022, which is geared towards transforming the country into a prosperous middle-class society.