Strong consumer spending likely to continue as inflation eases


Posted at May 10 2023 11:18 AM

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"Strong spending" is still being observed from Filipino consumers despite high inflation, Mastercard Country Manager for the Philippines Simon Calasanz said on Wednesday.

After the pandemic, Filipinos tend to visit grocery stores more often but with smaller baskets, Calasanz told ANC. 

He said they also continue to spend on mid-range and lower priced restaurants and are seen to spend less on high-end food places.

"Even in high inflation environment, we continue to see strong spending. The fact that we're seeing inflation taper off in the past 3 months... I think we can continue to see good news in terms of consumer spending in the next few months," he said.

Inflation has so far eased in the last 3 months, decelerating to 6.6 percent in April.