The average annual income of Filipino families in 2023 was estimated at P353.23 thousand, 15% higher than the P307.19 thousand average family income in 2021.
Moreover, the Philippine Statistics Authority (PSA) data showed that the average annual family income in 2018 was P313.45 thousand.
Meanwhile, Filipino families spent an average of PhP 258.05 thousand in 2023, an increase of 12.8 percent compared to the PhP 228.80 thousand expenditure in 2021. 2018 the average annual family expenditure was registered at PhP 238.75 thousand.
The National Capital Region (NCR) registered the highest average annual family income in 2023, at P513.52 thousand.
CALABARZON followed this at PhP 426.53 thousand and Central Luzon at P375.24 thousand. Meanwhile, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) recorded the lowest average annual family income at P206.88 thousand, followed by the Zamboanga Peninsula at P257.14 thousand and Negros Island Region at P266.29 thousand.
Similar to the average annual family income, NCR recorded the highest average yearly family expenditure among the regions in 2023 at P385.05 thousand, followed by CALABARZON at P310.32 thousand and Central Luzon at PhP 298.70 thousand.
Meanwhile, BARMM, MIMAROPA, and Eastern Visayas registered the lowest average annual family expenditure at P168.91 thousand, P189.77 thousand and P199.91 thousand, respectively.
Moreover, all regions had an increasing average annual family expenditure from 2021 to 2023.
The Zamboanga Peninsula's average annual family expenditure increased by the most significant percentage from 2021 to 2023, at 20.8%, while the Cordillera Administrative Region posted the lowest increase, at 2.1%.
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