Marcos orders review of minimum wages amid inflation

President Ferdinand 'Bongbong' Marcos Jr. ordered a review of minimum wage rates in every region during his Labor Day speech at Malacañang Palace on Wednesday, May 1.

Marcos directed the Regional Tripartite Wage and Productivity Board (RTWPBs) to conduct reviews within 60 days prior to the anniversary of their latest wage order, taking into account inflation impacts.

The President also instructed the National Wages and Productivity Commission to review its rules for regular and predictable wage adjustments to reduce uncertainty.

Economic think tank IBON Foundation noted that as of January this year, a family of five in Metro Manila needs P1,207 daily to meet living expenses, while the current average minimum wage is only P440.

Philippine inflation quickened for a second straight month in March - to 3.7% from 3.4% in February - as rice prices continued to surge.

The Philippine Chamber of Commerce and Industry (PCCI) described Marcos' call as 'prudent,' saying it was a balanced approach to the demands of the labor sector for a wage increase and proposals in Congress for a legislated wage hike.