Southeast Asians scale back spending as Iran war spillover persists

Economists predict household recovery will be gradual as prices stay high

A vendor tends to a customer at a public market in Quezon City, Metro Manila. The Philippines reported 7% year-on-year inflation in April and May due to the impact of the Iran war on fuel prices. © Reuters

JAKARTA/MANILA -- Ed delos Santos, a 45-year-old security guard in Taguig, a city in Metro Manila, has for many years struggled to support his family of four. His wife stays at home and their two kids go to school, and he earns just over 30,000 pesos ($490) monthly.