BMI Research: Consumer spending still strong despite rising inflation
Consumer spending will remain strong this year despite rising inflation, analysts at BMI Research said, with stable incomes and remittance inflows to offset the impact of prices.
“The consumer outlook in the Philippines remains bright on the back of a strong economic performance and rapidly rising incomes, influenced by a tight labour market and sustained remittance inflows. Although we do expect inflation to tick up over 2018, we do not expect it to have a pronounced effect on consumption,” BMI said in a report. — Melissa Luz T. Lopez