Philippines continues to be a consumer-driven market. Consumer behaviour may change but seems like it's just more of a product shift. Example: Demand of rice maintains regardless of price; hence, will compensate through lesser demand on other grocery items (i.e. need to forego snacks).

Inflation will always be there but it does not stop Filipinos from spending. Malls are getting jampacked, international concerts are being brought in with high ticket sales, etc.

Quantitative easing (fiscal policy) & lowering interest rates (monetary policy) are just some of the tools to manage a nation's economy. It's the right amount of balance between fiscal and monetary policy that is needed by the country. While we have had great Central Bankers managing the monetary policies, fiscal policy is directed under different Administration. I think this is where it lacks consistency.