Despite earning ‘starvation wages,’ Filipinos grapple with the escalating inflation that marked the first year of Marcos’ tenure.
MANILA – President Marcos’ first year in office has been marked by inflationary challenges that have hit the country hard, leading to an economic downturn and an increasingly difficult living situation for Filipinos. This has led to stark criticism of the administration’s economic policies.
According to recent data from the Philippines Statistics Authority, inflation rates have skyrocketed over the past year, increasing the cost of living significantly. This, coupled with stagnant ‘starvation wages,’ has amplified the hardship faced by ordinary Filipinos.
An economic analyst said, “With the inflation rate outpacing wage growth, many Filipinos are effectively earning less than they were a year ago. The government needs to address these inflationary pressures and consider wage hikes to relieve the burden on its citizens.”
Workers and labor unions have staged protests in recent weeks, demanding wage increases and calling for government intervention to curb inflation. Despite these pleas, the Marcos administration has not yet put forth concrete measures to address these economic concerns.
“Life has become harder under this administration,” says Maria, a single mother of two, echoing the sentiment of many Filipinos. “Our wages remain the same, but prices keep increasing. We’re barely surviving.”
Critics argue that the administration’s policies have not been adequate to address the inflationary pressures and wage stagnation. They are calling for immediate and effective solutions to alleviate the economic hardship faced by Filipinos.
The government, however, continues to express optimism. In a recent press conference, a spokesperson for the administration said, “We understand the challenges our citizens are facing and we are actively working on strategies to combat inflation and improve wages.”
As Marcos’ first year in office comes to a close, the pressure is mounting for his administration to address the rising inflation and wage stagnation plaguing the Filipino people.