Philippine Companies Cut Costs to Combat High Inflation

Philippine companies across the food, restaurant, and telecommunications sectors are restructuring operational strategies to mitigate the impact of high inflation and a weak peso. To retain price-sensitive consumers, businesses are shifting toward cost-containment and budget-friendly offerings.

In the food sector, Monde Nissin Corp. is switching to lower-cost ingredients and staggering small price increases, while Century Pacific Food Inc. raised prices by 4% to 5% after a two-year freeze. Fast-food operators Jollibee Foods Corp. and Shakey’s Pizza Asia Ventures Inc. have reduced their outlet expansion plans, with Jollibee implementing a 2.8 billion-peso cost containment program.

Telecommunications providers PLDT Inc. and Globe Telecom Inc. are focusing on prepaid plans and targeted discounts to maintain value for cautious users. Simultaneously, Philippine Seven Corp. is expanding its provincial footprint to capture consumers moving toward convenient, lower-cost local options.