Home Headlines IN CENTRAL LUZON4.9% inflation rate pushes board to eye wage hike

IN CENTRAL LUZON
4.9% inflation rate pushes board to eye wage hike

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CLARK FREEPORT – Inflation rate in Central Luzon has risen to 4.9 percent, prompting the Regional Tripartite Wages and Productivity Board (RTWPB) to now tackle the possibility of increasing minimum wage in the region.

Warren Serrano, regional information officer of the Department of Trade and Industry (DTI), described the inflation rate as “highest in so many years.”

He said, however, that the RTWPB has yet to consider how much increase is being considered.

In May last year, the regional board implemented a P16 hike in minimum wage in Central Luzon, increasing the daily wage from P364 to P380 in the provinces of Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, and Zambales.

In the largely agricultural province of Aurora, daily wage was increased from P313 to P329.

Serrano noted that 156 items monitored weekly by the DTI indicated increase in the prices of 15 items raised prices by six to eight percent.

The items comprised canned goods, including sardines and corned beef, he noted.

The price of bread has remained stable, he added.

Serrano said, however, that the Duterte administration has increased from P1 billion to P5 billion the funds for barangay micro business enterprises.

“This is significant for Central Luzon which has the biggest number of micro enterprises nationwide,” he said.

Under this program, micro business cooperatives or their individual members could obtain loans with minimal interest.

Serrano also said that a national summit of small business enterprises from all over the country will be held in this Freeport from July 10 to 12 in the government’s bid to acquaint them with programs to be funded by the P75-billion program.

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