Filipino families spent P19,242 monthly during lockdown

A new survey by the Bangko Sentral ng Pilipinas (BSP) reveals that Filipino households spent an average of P19,242 monthly during the COVID-19 pandemic lockdown in 2021. This total amounts to P230,905 annually. Food was the largest expense, making up 57.2 percent of household budgets, with families spending P9,955 monthly on home-cooked meals. Spending on restaurants dropped significantly to P486 per month, reflecting a shift to dining at home. Housing and utilities accounted for 10.6 percent of spending, down from 23.9 percent in 2017. Transportation expenses were 7.2 percent, while nonessential items made up 8.6 percent of total expenditures.