Philippines' poverty rate rises to nearly 26%

  • Economy
  • Friday, 6 Mar 2015

MANILA: The percentage of people in the Philippines classified as poor rose to 25.8 percent in the first half of 2014 mainly because of a rapid increase in food prices and the effects of a super typhoon, the government said on Friday.

The poverty rate in Asia's second-fastest growing economy was 24.6 percent a year earlier, the latest data from the Philippine Statistics Authority show.

A person is defined as poor in the Philippines if they are living on $1.3, or less, a day.

However, per capita income increased by 6.4 percent in the first half of 2014 from a year earlier.