“Presidential adviser for poverty alleviation Larry Gadon says the Filipinos' purchasing power is high, judging from the big crowd in shopping malls.”
What Vera Files found
The purchasing power of the peso has weakened since 2018, based on data from the Philippine Statistics Authority. When prices are increasing and people have fixed incomes, the “tendency is to buy less and less of the same set of goods,” Luisito Abueg, assistant professor in economics at UP Los Baños, explains.
Their words, from the summary they publish with the rating.
In short
Larry Gadon made this claim around 17 May 2024. Vera Files (Philippines) looked into it and published its finding on 28 May 2024, 11 days later. Its rating was “False”.
Larry Gadon has 17 checked claims in this archive. Fact-checking organisations rated 13 of them false or fake, 4 misleading or mixed and 0 true.
Where the claim appeared
Links recorded by Vera Files. Some posts may have been deleted since.
This check was done by Vera Files, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.