Falling wages, more expensive food (February 2023) – IBON Foundation

March 16, 2023

A decrease in inflation doesn’t mean that prices are going down — only that prices aren’t going up as fast as before. Even if inflation declined slightly in February to 8.6%, the real value of the NCR minimum wage keeps falling as the price of food and other basic goods and services keeps going up.

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IBON Foundation

IBON Foundation is a non-stock, non-profit development organization. We have been serving the Filipino people through research and education since 1978. IBON seeks to promote an understanding of socioeconomics that serves the interests and aspirations of the Filipino people. We study the most urgent social, economic, and political issues confronting Philippine society and the world.

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