MANILA – Labor group Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) said it is planning to revise its P320 wage hike petition to reflect the 6.2-percent inflation rate in the third quarter of the year.
“Prices of food and costs of services continue to rise since June. So we are crunching the numbers to faithfully reflect the needs of workers and their families to cope with current 6.2-percent inflation rate. We might amend our first wage hike petition so that the wage board would have a real time appreciation of realities surrounding the challenges facing workers,” ALU-TUCP spokesperson Alan Tanjusay said in a statement.
The July to September inflation print is more than the 4.8-percent average posted in the second quarter of the year, and compares with 2.7 percent recorded in the same period last year.
It is also the fastest since the second quarter of 2008 when it came in at 8.3 percent.
Tanjusay said the ALU-TUCP will bid for a substantial wage increase for workers in Metro Manila in the scheduled wage hike consultation on Monday, October 22.
He said the P320 wage hike petition the group filed in June only reflected the prevailing conditions of the first quarter inflation rate.
The Regional Tripartite Productivity and Wages Board-National Capital Region is set to meet on Monday to hold its first of three sectoral consultations and public hearing in determining the amount of wage increase for workers in the region.
Metro Manila workers are currently receiving P512 a day minimum wage.
However, due to high inflation the real value or purchasing power of which fell to P340 a day, according to Tanjusay. (GMA News)
