Business · Philippines Bureau
Labor group urges summit as inflation threatens 3-year peak
A major labor federation is calling for urgent government action as September inflation is expected to climb to 7.4 percent, marking the highest level since 2020. The cost-of-living crisis threatens to erode workers' purchasing power across the country.
LSN Philippines ·
MANILA — The Sentro ng mga Nagkakaisa at Progresibong Mangagawa has appealed for a national summit to address the mounting cost-of-living pressures facing Filipino workers and families. The labor group's call comes as the Bangko Sentral ng Pilipinas forecasts September inflation could reach 7.4 percent, representing the steepest climb in more than three years.
The central bank's projection marks a significant uptick from previous months and underscores the growing inflationary pressures affecting the economy. At the high end of the BSP's 6.4 to 7.4 percent forecast range, September inflation would represent the most severe price increases experienced since 2020.
The labor group's push for a summit reflects growing concerns about household budgets and worker welfare as essential goods and services become increasingly expensive. The call reflects pressure on policymakers to formulate coordinated responses to address the crisis affecting consumers and workers across income levels.
The timing of the inflation forecast has intensified debate over economic policy and the need for comprehensive measures to shield vulnerable populations from further purchasing power erosion in coming months.