Why the lower UAAP cheerdance prize?

MANILA, Philippines – A whopping 85% has been slashed in the cash prizes of the UAAP Cheerdance Competition this season.

Some fans surmised: Was it due to inflation?

The champion’s prize last season amounted to P340,000 , but it was reduced to P50,000 this year. The 2018 1st runner-up received P30,000 instead of …
Source: Politics