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Inflation - the Grinch that stole Christmas

Poor families in the Philippines are being hit hard as wages fail to keep up with inflation

From being Asia's fastest-growing economy two years ago, the Philippine economy is sputtering and the population is hurting.

Judging from interviews, poor and middle-class Filipinos have had to make big cuts in their holiday spending in the weeks leading up to Christmas even though it is the time when families usually incur their highest expenditures.

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A version of this article appeared in the print edition of The Straits Times on December 25, 2018, with the headline 'Inflation - the Grinch that stole Christmas'. Print Edition | Subscribe