SAN FERNANDO CITY, La Union (PIA) —  La Union’s inflation rate for March 2024 reached 3.7 percent, according to the Philippine Statistics Authority (PSA) Region 1.
 
While this reflects a slight increase from February's 2.8 percent, it remains comfortably within the government's target range of two to four percent.
 
Compared to the same period last year, the figure also shows a decrease of 1.2 percent, with the March 2023 inflation rate of the province sitting at 4.9 percent. 
 
Over the first quarter of 2024, La Union's average inflation sits at 3.2 percent, which is lower than the national average of 3.3 percent.

The slight uptick in inflation can be attributed to several factors.
 
The most significant contributor was increases in housing, utilities, and fuel costs, with their combined index rising to 1.7 percent in March from a negative 0.3 percent in February.
 
Food prices also saw an uptick, with the food and non-alcoholic beverage index reaching 7.7 percent in March, compared to 6.9 percent the previous month.
 
Transportation costs followed suit, with an inflation rate of 1.6 percent in March compared to a decline of 0.3 percent in February.

However, there were also some positive developments.
 
Inflation in the health and information and communication sectors showed declines.
 
Health inflation dropped to one percent in March from 1.7 percent in February, while information and communication did not record an increase for March 2024 from a figure of 0.3 percent the previous month. 
 
Danites Teñido, PSA-La Union’s chief statistical specialist, emphasizes the importance of monitoring inflation trends.
 
He said that financial services, education, restaurants, and accommodation services also helped keep the overall inflation rate within target, helping offset the inflation increases in other commodities. 
 
These sectors maintained their previous trends, with education at a steady 0.8% annual increase, financial services experiencing a slight 0.1% annual decrease, and restaurants and accommodation remaining flat with zero inflation.
 
The PSA releases monthly inflation reports to improve public understanding of price movements.
 
These reports are accessible through the PSA website and press conferences. (JCR/AMB/CCMT, PIA La Union)