Thursday, June 14, 2007

How does the Filipino spend?

I stumbled upon a fact sheet released by the Senate Economic Planning Office which highlights the final results of the National Statistic Office (NSO) 2003 Family Income and Expenditure Survey (FIES).

Here are the bits and pieces that caught my attention:

1. The average family income increased by 2.5% from 2000 to 2003.
Take inflation in, it actually declined by 10%.

2. Lower-income families spent more than they earned.

3. Income of the richest 10% is 20 times more than that of the poorest 10%.

4. Food takes up almost half of the total family expenses.

5. By 2003, the family tends to eat out more than in 2000.

6. Spending on transportation and communication increased.

This data of course is a bit outdated but we can somehow see where our money goes. I wonder what the numbers would be in 2007.

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