Senator Francis Tolentino encourages businesses to be mindful of their customers, especially during the holiday season, by avoiding excessive product costs.
‘Kayo na po ang nagsabi na consumer-driven. Kung wala ang ating mga consumers, wala rin ang ine-expect na pag-rebound ng ating ekonomiya.’
Senator Tolentino
“Ang ma-underscore ay yung social responsibility ng mga kumpanya. Huwag naman masyadong taasan ang presyo dahil papasok na ang Christmas season, para na rin sa ating mga consumer, ating mga mamimili,” Sen. Tol said on Saturday.
This follows the announcement by accounting firm PwC Philippines Chairman Roderic Danao that one possible mitigating action for companies in the face of high inflation is to raise prices.
While Danao underlined that this is merely a possibility, he acknowledged that customers will suffer the brunt of price increases.
Citing the data of PwC that the Philippines is the 24th largest consumer economy in the world with 70% of the Gross Domestic Product (GDP) driven by consumption, Sen. Tol said: “Kayo na po ang nagsabi na consumer-driven. Kung wala ang ating mga consumers, wala rin ang ine-expect na pag-rebound ng ating ekonomiya.”
