Managing expectations

If we use news and social media accounts as an indicator, a typical person anywhere in the world would likely be most concerned with economic issues. Rising prices of basic goods and services, job security and access to affordable food are among the pressing challenges that affect many, particularly those in the lower-income brackets.

Filipinos are no exception. Economic conditions have always influenced the choices of voters and, as the 2025 Philippine elections approach, these concerns are expected to shape the political trajectory in a more pronounced way.

According to official government data from the Philippine Statistics Authority (PSA), the country’s overall inflation rate in January 2025 remained at 2.9%, the same annual growth rate recorded in December 2024. However, food inflation at the national level rose to 4.0% in January 2025, up from 3.5% in the previous month. 

Despite these seemingly modest increases, the cost of essential goods highlights the continuing rise in the cost of everything, which further burdens average households. This steady yet slow rise underscores the persistent challenge of making food both affordable and accessible, making it a crucial issue for political candidates to tackle in the coming elections.

If not properly addressed, prolonged inflation in food and other basic necessities could exacerbate poverty, delay inclusive growth, spread social discontent and severely diminish public trust in the government’s ability to maintain economic stability.

However, official government statistics do not always fully capture the experiences of people on the ground. Public opinion surveys play an equally important role in understanding economic realities, as perception often shapes public sentiment and decision-making.

What may seem like a minor increase in inflation on paper can translate into daily struggles for families who are already struggling to make ends meet.

A survey commissioned by the Stratbase Group and conducted by the Social Weather Stations (SWS) in January 2025 found that nine out of ten Filipinos would vote for candidates who advocate for job creation, food security, healthcare, education and workers’ rights. Specifically, the top priorities for Filipino voters are increasing job opportunities and ensuring food security, both ranking first at 94%.

These are followed by strengthening the healthcare system (93%), ensuring equal access to education (92%) and protecting workers’ rights, including the welfare of overseas Filipino workers (92%). Notably, 87% of Filipinos would support a candidate who prioritizes reducing poverty and hunger, while 85% would vote for one who focuses on controlling the prices of basic goods and services.

Another SWS survey conducted for the Stratbase Group in January 2025 revealed that the majority of Filipinos felt that rice prices had increased the most among the food items they purchased in the past three months.

According to the results, 59% of Filipinos identified rice as having the highest price increase from October to December 2024, followed by 29% who cited meat (i.e., chicken, pork, and beef). Others pointed to vegetables (11%) and fish and seafood (4%) as products that had become more expensive.

The significance of these findings cannot be overstated; these are staple food items that Filipinos consume daily. Rising prices of these goods not only increase household expenses but also limit food choices, leading to poor nutrition and worsening health outcomes.

The same survey also found that 58% of Filipinos believe that the Marcos administration’s efforts to control inflation and rising prices have been insufficient. Only 16% considered these measures adequate, while 19% said they were neither sufficient nor insufficient.

This lack of confidence in the administration’s current initiatives suggests that Filipino voters are looking for leaders who can deliver tangible results rather than mere promises.

Data from the PSA further shows that food and non-alcoholic beverages make up the largest share of household consumption in the country. This underscores the reality that these basic items account for a significant portion of consumers’ spending.

Strengthening food security and agricultural productivity should be at the core of economic planning, ensuring that local farmers receive adequate support to increase production and reduce reliance on imports.

Based on these statistical revelations, can mere popularity sustain a candidate’s adventure into politics? The wild assumption of trying to win first before addressing the public’s urgent concerns is a dangerous strategy to work with in the game of politics.

Ideally, investing in the development of human capital is crucial. With a population of over 115 million, the Philippines has a vast workforce and a strong consumer base that can drive economic growth. Investments across various sectors – such as infrastructure, education, healthcare and manufacturing – can create a multiplier effect, generating jobs, increasing incomes and enabling Filipinos to afford essential goods and services.

But then again, investments must be carefully planned to ensure that economic growth is inclusive. Otherwise, economic expansion will remain uneven, widening the wealth gap between the rich and the poor.

It is imperative that the country’s next leaders prioritize economic concerns with the people in mind. The results of the social surveys are sending a wake-up call for candidates to focus on policies that ensure the well-being of the people while also strengthening public trust in government institutions.

Addressing inflation, improving food security and generating sustainable employment opportunities should not be treated as mere campaign promises. They must be the foundation of the country’s long-term economic roadmap.

Multisectoral collaboration is essential as no single stakeholder can address these complex challenges alone. The government must promote job-generating, investment-led growth by cultivating a business-friendly environment that enhances productivity, creates employment opportunities, and boosts consumer spending.

Tackling these deeply interconnected economic challenges requires comprehensive solutions, particularly since the country remains vulnerable to external shocks that impact the economy and ultimately affect the people. Candidates must ensure that their proposed solutions provide both short-term relief and long-term stability.

Equally important is the need to prioritize good governance, particularly in ensuring transparency and accountability. Public funds must be properly utilized to benefit those who need them most. Strengthening institutions, ensuring regulatory reforms, and holding public officials accountable must go hand in hand with economic policies to ensure meaningful change.

With the midterm elections approaching, voters must make informed choices. The actions of the country’s next policymakers will determine the nation’s trajectory, either paving the way for progress or setting it back.

As such, Filipinos must demand accountability from their leaders and expect vision, competence and integrity as principal drivers towards building an economy that benefits the general public. This, essentially, is the reason why an election is being held in the first place.

Venice Isabelle Rañosa, research director of think tank Stratbase Group.