IN A study by the Philippine Statistics Authority (PSA), the average monthly income of a Cordilleran family almost surpasses its average expenses indicating a low saving’s trend.
PSA studies show from 2009 to 2015, the average annual income of a family in the Cordillera increased from P246,000 to P282,000, however, with the average annual income in the past years, savings of the average highland family did not increase along with the upturn of expenditures. Data provided by PSA shows food hits the highest percentage with 40% of expenditure for a Cordilleran family while education and health are found at the bottom of the list with 5.3% and 4.6% recorded respectively. Meanwhile, this data was gathered through the Family Income and Expenditure Survey (FIES) conducted by PSA for almost every three years in every region of the country. The recorded average annual monthly income of a Cordilleran family was set at P24,000 in 2015 while P17,000 on its expenditure, an estimated P7,000 was the only remaining balance for a family’s budget monthly. From the data, the average annual savings of families increased from 2009 to 2012. On other hand, it decreased with a big amount from P 73,000 of 2012 to P53,000 in 2015, showing how challenges have risen for families in budgeting needs and basic commodities. The PSA results serve as a guide of information in knowing the levels of living and disparities in the income of Filipino families as well.
(Shena Golosino) Published in the SunStar Baguio newspaper on March 27, 2017.