A big part of the population has no access to even a cellphone signal in some cases. So, we have to find other ways of reaching them. E-money [electronic money] has played a big role [in onboarding Filipinos to the formal financial system]. E-money accounts grew to 36 percent in 2021 [from 8.0 percent in 2019], much higher now.
The price puzzle is why prices have been so well behaved in the face of labor costs that have been rising, albeit not especially fast. Has the economy, as so many business anecdotes allege, really become more fiercely competitive both nationally and internationally?