A Filipino family needs a monthly budget of P12,000 to survive and not be considered poor, according to the latest survey by Social Weather Stations (SWS). For those living in Metro Manila, the need is higher at more than P20,000 per month to live well.
Based on the survey conducted from June 25 to June 29, the so-called Self-Rated Poverty Threshold increased from P10,000 last quarter to P12,000 this year. This increase is the effect of the high prices of food, transportation, electricity, and water.
However, incomes remain low compared to needs. As a result, many Filipinos are forced to cut expenses and adjust their lifestyles to keep up with rising prices.
It also emerged that 49% or 13.7 million Filipino families consider themselves poor. The highest number of those who said they were poor were from Mindanao (69%), followed by Visayas (60%), Balance Luzon (38%), and Metro Manila (36%). Meanwhile, the percentage of those who said they were “not poor” increased slightly in other areas except for the Visayas.
With the continued increase in prices and expenses, it is clear that each family needs a higher income to maintain a decent lifestyle.
