MANILA: Almost half of Filipinos believe their economic situation has improved since the Covid-19 pandemic, according to a report titled “Cost of Living Monitor” by market research company Ipsos. The survey, conducted over two weeks in late October and early November, indicated that 49 percent of Filipinos feel financially better off compared to early 2020, prior to the global pandemic.

According to Philippines News Agency, the survey involved 22,720 participants from 32 countries, including 500 from the Philippines. Of those who reported an improved financial situation, 17 percent felt “much better off,” while 32 percent felt “a little better off.” This positive sentiment in the Philippines surpasses the global average of 37 percent.

Ipsos highlighted that 37 percent of respondents worldwide reported feeling worse off than before the pandemic, a sentiment echoed across all Group of Seven (G7) countries, which include Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. In contr
ast, in the Philippines, 17 percent of respondents felt “a little worse off” and 7 percent felt “much worse off” post-pandemic. Additionally, 25 percent reported no change in their financial situation.

In terms of personal financial management, 37 percent of Filipino respondents indicated they are “doing alright,” while 26 percent are “just about getting by.” Only 9 percent reported “living comfortably,” whereas 29 percent found it “quite difficult” or “very difficult” to manage financially.

Regarding inflation, the survey revealed that 44 percent of Filipinos expect it will take more than a year to stabilize. Among them, 27 percent believe inflation will require over a year to normalize, and 28 percent think it will never return to pre-pandemic levels.