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 2015 Family Income and Expenditure Survey
- Average family income in the Bicol Region increased by 15.4 percent between 2012 and 2015, based on the results of the 2015 Family Income and Expenditures Survey. Average family expenditure, on the other hand, rose by 11.1 percent.
- Families in the P60,000 – P99,999 income bracket recorded a big drop from about 357 thousand families in 2012 to about 269 thousand families in 2015. On the contrary, families in the P100,000.00 – P249,999 income bracket rose from about 477 thousand families in 2012 to about 666 thousand families in 2015.
- 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 53.3 percent of total family income in 2015, smaller than the 56.3 percent share in 2012. Income equality continued to improve from a Gini ratio of 0.4268 in 2009 to 0.4233 in 2012 and 0.3961 in 2015.
- Majority of families in Bicol Region in 2015 derived their incomes from multiple sources. Families with income sourced from wages and salaries accounted for 35.4 percent.
- Food remained the biggest expenditure item of families, accounting for 48.0 percent of total family expenditures in 2015. For families in the under P40,000 income bracket, food took up 61.5 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 1.1 percent in 2016 with the highest recorded in December at 3.2 percent and the lowest in February at negative 0.3 percent.