On a global scale, inflation has been influenced by multiple factors such as the COVID-19 pandemic, fuel price increases, and the ongoing conflict between Russia and Ukraine.
Locally, its effects are felt most in consumers’ wallets when purchasing basic goods. In light of the weakening peso, the price of goods has risen exponentially.
A multi-country study was conducted on migrants’ behaviors to manage finances during inflation, and results showed that 78 percent of respondents agree that their cost of living has risen.
Read more, here.