COTABATO CITY (PIA)—The inflation rate in the Bangsamoro region slowed to 6.7% in April, based on the latest report from the Philippine Statistics Authority of the Bangsamoro Autonomous Region in Muslim Mindanao (PSA-BARMM).
The latest figure is lower by 1.1% from the 7.8 percent in March 2023, indicating a stable situation in the region’s economy.
PSA-BARMM Officer-in-charge Regional Director Engr. Akan Tula said the deceleration of the inflation rate in BARMM can be considered as one of the indicators that the region’s economy is going stable.
Tula emphasized that the main factors contributing to the reduction of the region’s inflation rate were the reduced costs of food and non-alcoholic beverages, transport, housing, water, electricity, gas, and other fuels.
Among the provinces in BARMM, Tawi-Tawi recorded highest with an inflation rate at 10.8 percent, followed by Basilan at 9.4 percent, Sulu at 6.6 percent, Maguindanao has its lowest inflation rate at 6.1 percent, and Lanao Del Sur at 5.4 percent, all showing decreased inflation rates.
The report also mentioned that Cotabato City’s inflation rate decreased to 4.9 percent this April compared to the 5.5 percent inflation rate in the previous month of March.
Meanwhile, of the 16 regions in the country, BARMM’s inflation ranked sixth and fifth among the regions outside National Capital Region in terms of deceleration of inflation rate for April 2023. (With reports from Bangsamoro Government).
