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MANILA, Philippines – Nonessential expenses are among the first items Filipinos plan to trim amid persistent inflation concerns, compounded by uncertainty tied to the Middle East crisis, according to the latest TransUnion Consumer Pulse Study.
These include spending on dining out, travel and entertainment, with only 26 percent of Filipino respondents saying they plan to increase spending in these categories in the second quarter-down 4 percentage points from the previous quarter.
READ: Study: Filipinos cutting back on holiday spending
Spending intentions in other areas also softened. Only 28 percent said they plan to spend more on digital services, while the share of Filipinos looking to increase their retirement funds and savings slipped to 36 percent.
