Tag Archives: Consumer price index

[In the news] Trade Union Congress of the Philippines revives wage hike | Sun.Star

Trade Union Congress of the Philippines revives wage hike | Sun.Star.

By JM Agreda
March 24, 2012

AFTER several months of waiting for supervening conditions, the Trade Union Congress of the Philippines (TUCP) will be re-filing its petition for an P80 across-the-board wage increase.

TUCP regional coordinator Engineer Rey Lardizabal said the wage increase petition is needed for the labor sector to survive the surging prices of transportation and fuel, basic and prime commodities and cost of living.

Lardizabal said a wage hike is inevitable, citing previous increases in salaries have been overtaken by continuing price hikes.

In a petition by the TUCP, it said wage orders of P10 to P15 for cost of living allowance (Cola) in 2008 and the P12 additional Cola enforced last January 2011 have been overtaken by increases in prices of petroleum products, transportation and basic goods and commodities.

The group is now batting again for a P352 minimum daily wage in the region compared to the prevailing P272 minimum wage enforced in 2011.

The group also said it is time to enable workers to recover from the difficulties brought about by the global financial crisis a few years ago.

TUCP cited workers and their families, despite spectacular gains in the gross national product, production and productivity, have not been granted a single peso in real wage increase since 1989.

For them, increased wages would help sustain the economic recovery of the country as it will help bolster local demand, TUCP said.

The group also compared that from May 2008 to March 2011, the consumer price index in the region rose from 154.5 to 172.8 or the equivalent of a 12-percent increase in consumer prices or equal to a P31.20 excluding new price increases in transportation, fuel and basic commodities.

Discussing their previous petition, consumer prices brought about by unabated fuel and water and electricity rate increases according to the group are also expected to rise by as much as eight percent and more considering the increases in transportation and fuel experienced this year.

This, according to TUCP, is equivalent to an additional P20.80 increase in wages.

Read full article @ http://www.sunstar.com.ph/baguio/local-news/2012/03/24/union-revives-wage-hike-212904