CALAPAN CITY, Oriental Mindoro (PIA) — The inflation rate in MIMAROPA region slowed down to 2.9 percent in December 2024, the Philippine Statistics Authority (PSA) Regional Statistical Service Office (RSSO) MIMAROPA reported.
In a press conference, PSA MIMAROPA Regional Director Leni R. Rioflorido explained that the headline inflation, which reflects the rise in prices of goods and services in the region, slowed to 2.9 percent in December 2024.
“Ang headline inflation o ang pagtaas ng presyo ng mga produkto at serbisyo sa rehiyon ay bumagal sa antas na 2.9 percent nitong Disyembre 2024. Noong Nobyembre 2024, ang inflation ay naitala sa antas na 3.0 percent, at 4.4 percent naman noong Disyembre 2023,” she said.
Rioflorido added that the primary reason for the lower inflation rate is the slower increase in the prices of food and non-alcoholic beverages, which registered an inflation rate of 3.4 percent. A significant contributor to this was the slower price rise in cereals and cereal products, including rice, which had an inflation rate of only 0.1 percent.
The second factor contributing to the reduced inflation rate was the slower price increase in housing, water, electricity, gas, and other fuels, which posted an inflation rate of 2.9 percent. The main contributors to the lower inflation in this category were rent, with an inflation rate of 1.0 percent, and coal, with an inflation rate of 2.2 percent.
The third factor was the slower price movement in personal care and miscellaneous goods and services, which had an inflation rate of 1.2 percent. (ALG/PIA Oriental Mindoro/With report from the PSA MIMAROPA)
