The income of rich Filipino families is over 10 times that of the poorest families, according data released by the National Statistics Office (NSO).
NSO Administrator Carmelita Ericta said the 2012 Family Income and Expenditure Survey (FIES) showed that the richest respondents earned an average annual income of P715,000 or P60,000 a month.
The poorest respondents earned P69,000 a year or about P6,000 a month.
“The gap in income between the richest and the poorest remains wide. The income of
families in the richest decile is 10 times that of the poorest. This finding is true for both 2009 and 2012,” Ericta said.
According to the survey, the richest families spent P463,000 in 2012, with P252,000 total savings for the year. The poorest ended up in debt instead of savings, since their expenses exceed their income.
“At 2006 prices, the income of families in all per capita income [levels]had hardly changed within the period 2009 to 2012,” Ericta said.
The 2012 FIES showed that the average Filipino family earns P234,000 annually and spends about P185,000, leading to savings of P49,000.
“At the regional level—at 2012 prices—all regions exhibited an increase in average annual family income. Families in the National Capital Region had the highest annual income at P380,000 on average while families in Autonomous Region in Muslim Mindanao had the lowest annual income of P129,000 pesos, on average,” Ericta said.
In 2012 the biggest expense was food, accounting for 44 percent of the total family expenditure.
House or rental fees came in second with 12.5 percent, and expenditure on water, electricity, gas and other fuels was third with 8.9-percent.
For the bottom 30 percent of per capita income group, two thirds of their expenses was for food (62.7 percent) followed by house or rent (7.9 percent) and water, electricity, gas and other fuels spending (7.5 percent).
Ericta said families in the above 70 percent per capita income group spent 41.4 percent on
food, 13.3 percent on house or rent and 9.1 percent on water, electricity, gas and other fuels.
The FIES surveys households and looks at family income and expenditure data every three years. The next survey will be in 2015.