CALAPAN CITY, Oriental Mindoro (PIA) — The headline inflation rate in the province of Oriental Mindoro slightly slowed down to 10.0% in March 2023, from 10.7% in February 2023 based on the report presented by the Philippine Statistics Authority (PSA) in a press conference held, April 14, in this city.
PSA Chief Statistical Specialist Efren C. Armonia said the continued downtrend of the overall inflation in the province in March 2023 was primarily brought about by the lower year-on-year increase in the index of the housing, water, electricity, gas, and other fuels at 12.7% , from 15.0% in February 2023. This was followed by transport index with an inflation rate of 3.9% from 8.4% in the previous month.
The third primary driver of the downtrend of the headline inflation during the month was restaurants and accommodation services index, which recorded a 16.5% inflation rate from 18.2% in February 2023.
Armonia explained during the conference the other commodity groups that contributed to the slow down in the March 2023 headline inflation rate are as follows: information and communication; and recreation, sport and culture, which registered lower inflation rates during the month at 6.2%, 1.9%, and 4.5%, respectively.
In contrast to the report, higher inflation rates were observed in the following commodity groups: food and non-alcoholic beverages, 10.0%; alcoholic beverages and tobacco, 15.4%; clothing and footwear, 11.6%; furnishings, household equipment and routine household maintenance, 9.9%; and personal care, and miscellaneous goods and services, 6.9%.
Armonia further said that the indices of education services and financial services retained their corresponding previous month’s annual rates of 1.8% and 0.0%, respectively.
It was noted in a report of PSA that food inflation in Oriental Mindoro rose to 10.3% in March 2023, from 10.0% in February 2023. Compared in March 2022, food inflation rate was lower at -1.0%.
Source: Philippine Statistics Authority (PSA), Retail Price Survey (RPS) for the Generation of Consumer Price Index (CPI)
Moreover, the uptrend in the food inflation was mainly brought about by the higher annual growth in the rice index at 11.8% in March 2023, from 6.1% in February 2023. Faster annual increments were also noted in the report on the following food groups: fruits and nuts, 11.3%; oils and fats, 11.7%; sugar, confectionery and desserts, 34.3%; and milk, other dairy products and eggs, 21.9%.
On the contrary, slower annual growths were observed in the indices of the following food groups: meat and other parts of slaughtered land animals, 2.7%; fish and other seafood, 7.7%; vegetables, tubers, plantains, cooking bananas and pulses, 25.2%; and ready-made food and other food products, NEC, -2.0%.
The indices of corn; and flour, bread, and other bakery products, pasta products, and other cereals remained at their February 2023 rates of 19.5% and 8.6%, respectively. (LTC/PIA Mimaropa-OrMin)
Source: PSA Year-on-Year Inflation Rates (%) in the Philippines, MIMAROPA Region, and Oriental Mindoro Province, All Items (2018=100)
