⌛ Living in the Phil. is getting more expensive

When I visited the Philippines in January 2006, the peso rate was 50:1. The now 40:1 is a huge drop. Benn

 

it might be 39:1 after the fees and western union sometimes gives me lower rate

yeah, i can see it being about 39 after the little commission of the money changer, etc. i remember jan 2005 when it was 56 or 57. i thought it was ok even jan 2006 when it was 50, but 40 is ridiculous. but I am a hostage.lol I have to go back to the Philippines and send money. really sucks.

 

Another interesting tidbit of information to have would be a price comparison of "off-market" products. For example; how much did you pay for pan de sol a year ago from a street vendor and how much is it now? Have those items seen increases as well?

 

Another interesting tidbit.
Have you noticed that size of portions are getting smaller at restaurants? Or is it just me?
I don't know about the situation in Dumaguete, but I noticed that the amount of ulam they give you are getting smaller here in Manila.
And in supermarkets like SM, the bags of things like dried fish, etc, contain less amount for same price.
So by decreasing the amount at same price, isn't this the same as inflation?

 

VAT Tax

One thing I didn't see mentioned in this discussion was the 12% VAT tax. I hadn't been there in a few years and that definitely seemed to be another factor in emptying my pockets.

 

Well, Hi Folks,

I will be retiring at the end of march and planning to move to
Dumaguete in June along with my Filippina wife and 8 year old boy. Dosen't matter about the exchange rate who can live on SS
in the US?

 

I think the exchange rate will go back up, maybe not as high as it was but from what I've read the bottom has been reached on the exchange. At least I hope that is correct as I too will be affected.

 

I take it that it's been sometime since you have been in the us?

 

My wife's family have expressed their concern of the troublesome economy there in the Philippines. They, like many others living in the Philippines, are among the poor class. With the peso now being only 40:1, the American dollar is given away when we send money to the family living in the Philippines. The constant rising oil prices are driving up the prices on everyday necessities, leaving the poor to do without even here in American.

 

i think the last time the value of the U.S. dollar was so low, was back in the 70's. Some of you are right, in respect to the value coming back up. I think it all depends on a variety of variables, from oil prices, to politics. I still think the Philippines is the best bet for living better on less dollars than any other place in the world that is safe to live.

Tom