The Family Income and Expenditure Survey is a nationwide survey of households undertaken every three years by the Philippine Statistics Authority (PSA). It is the main source of data on family income and expenditure, which include among others, levels of consumption by item of expenditure as well as sources of income in cash and in kind. The results of FIES provide information on the levels of living and disparities in income of Filipino families, as well as their spending patterns.
Highlights of the 2012 Family Income and Expenditure Survey
- Average family income in the Bicol Region increased by 6.6 percent between 2009 and 2012, based on the results of the 2012 Family Income and Expenditures Survey. Average family expenditure, on the other hand, rose by 5.1 percent.
- Families in the P40,000 – P59,999 income bracket recorded a big drop from about 130,000 families in 2009 to about 111,000 in 2012. On the contrary, families in the P250,000.00 and over incomebracket rose from about 145,000 in 2009 to about 175,000 in 2012.
- Catanduanes recorded the highest average family income among the Bicol provinces in 2009 at P241,147 while Masbate registered the lowest at P126,563.
- The upper 30 percent of families in the Bicol Region accounted for 56.3 percent of total family income in 2012, smaller than the 61.5 percent share in 2009. Income equality continued to improve from a Gini ratio of 0.4428 in 2006 to 0.4268 in 2009 and 0.4233 in 2012.
- Majority of families in Bicol Region in 2012 derived their incomes from multiple sources.
- Food remained the biggest expenditure item of families, accounting for 49.0 percent of total family expenditures in 2012. For families in the under P40,000 income bracket, food took up 62.7 percent of total family expenditure.
- A Bicolano, on the average, needed P21,476 in 2015 to be considered non-poor. The 2015 incidence of poor families dropped to 27.5 percent from 32.3 percent in 2012.
- Annual Inflation Rate in the Bicol Region averaged 1.0 percent in 2015 with the highest recorded in January at 3.2 percent and the lowest in September and October at negative 0.8 percent.