Gatchalian also stressed the need for greater government control over commodity costs, as price hikes severely hit poor households.
“The recent price hikes show that the government needs to improve how it manages inflation, which makes every day a survival challenge to the poor,” said Gatchalian.
Household consumption was said to have contributed 3.6 percentage points to the GDP, with the NEDA chief saying “strong” household spending “reflects the still upbeat consumer sentiment in the country.”
This, despite the last quarter’s increase in rice prices by P2.00 and garlic prices up to P280.00.
“If not for the remittances of our overseas Filipino workers, would household spending still be strong amid the rising prices of commodities?” asked Gatchalian. (Monica Cantilero)