NSO reports increase in annual family income
Davao City (27 October) -- National Statistics Office (NSO) data showed an increase in the average annual income of Filipino families in 2006. It was 16.2% higher than the 2003 estimate. The average annual income of the bottom 30% of families increased by around P8,000 while that of the upper 70% of families, by some P31,000.
The average annual income of Filipino families in 2006 was estimated at P172,000 while the estimated average in 2003 was P148,000. This average ranged from P32,000 for the lowest income group to P617,000 for the highest income group.
The annual expenditure of families, likewise, increased by 18.5% from P124,000 in 2003 to P147,000 in 2006.
The spending pattern of Filipino families particularly among those in the bottom 30% income group has changed in most (59%) of all expenditures by this group on food, while it was 48% in 2003. This means that for every P100 spent by this group in 2006, P59 went to food, compared to only P48 in 2003.
There was a decrease in the shares of other expenditure items like house rental value, transportation and communication and education. In terms of savings, the average savings in 2006 was P25,000 per family while the 2003 estimate was P24,000 per family.
This showed an improvement in income distribution compared to the 2003 ratio of 0.4605. (PIA XI) [top]