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February 3, 2021 | 8:40 pm Font Size PHILSTAR THE National Economic and Development Authority (NEDA) said keeping inflation in check will be crucial for households that are still suffering from their 2020 economic setbacks, noting that many employers remain incapable of raising wages even if required to do so by the boards regulating the minimum wage. “Rising food prices need to be addressed, to prevent a wage-price spiral. Prices of food, as well as other basic goods and services, should remain affordable especially now that both households and firms are experiencing financial difficulties,” NEDA said in a report accompanying the National Income Accounts. “This will temper demand for minimum wage hikes which may not be viable for businesses grappling with the impact of COVID-19,” it added.

Metro manilaPhilippines generalBeatricem laforgaBangko sentralNational incomeNational economicDevelopment authorityDepartment of laborAfrican swine feverமெட்ரோ மணிலாபிலிப்பைன்ஸ் ஜநரல்தேசிய வருமானம்தேசிய பொருளாதாரவளர்ச்சி அதிகாரம்துறை ஆஃப் தொழிலாளர்