Amid the public outrage over the Department of Trade and Industry’s (DTI) suggested P500 noche buena, Albay 1st district Rep. Edcel Lagman shared on Twitter a hearty menu for the traditional Chirstmas meal that only costs P4.
over the Department of Trade and Industry’s suggested P500 noche buena, Albay 1st district Rep. Edcel Lagman shared on Twitter a hearty menu for the traditional Chirstmas meal that only costs P4.The catch is, Lagman is talking about the peso power some 70 years ago, and not the inflation-ravaged Philippine currency of today.
According to the Bicolano, the minimum wage at that time was P4.00 a day, while the exchange rate was P2.00 to the mighty United States $1.00. “Today, the said menu would cost P825.00 or more than twice the daily national average minimum wage of P366.00. As time flies, the inflation rate rises,” Lagman said.
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